PROMISSORY NOTE PAYABLE

3 Months Ended

Jul. 31, 2024

PROMISSORY NOTE PAYABLE

PROMISSORY NOTE PAYABLE

NOTE 9 - PROMISSORY NOTE PAYABLE

Promissory note payable on July 31, 2024 and April 30, 2024, consists of the following:

	July 31, 2024			April 30, 2024
August 2022	$	137,500		$	137,500
September 2022		110,000			110,000
October 2022		229,350			229,350
November 2022		60,500			60,500
January 2023		330,000			330,000
February 2023		55,000			55,000
March 2023		55,000			55,000
May 2023		85,800			85,800
June 2023		231,220			236,720
August 2023		165,000			165,000
September 2023		125,000			125,000
November 2023		140,000			160,000
January 2024		150,000			150,000
February 2024		120,000			120,000
Total promissory notes payable, gross		1,994,370			2,019,870
Less: Unamortized debt discount		(23,959	)		(49,977	)
Total promissory notes, net	$	1,970,411		$	1,969,893

The terms of the promissory notes are summarized as follows:

· Loan Expiry Term of Six Months to One Year

· Weighted Average Remaining Term of 0.51 years

· Annual interest rate of 10%-18%

· Convertible at 25% of the average of the five (5) lowest Daily VWAP over the ten (10) consecutive VWAP Trading Days immediately preceding the date on which the Market Price is being determined, the Holder elects to convert all or part of the note in the event of default.

During the three months ended July 31, 2024 and 2023, the Company issued promissory notes for aggregate principal amount of $0 and $478,500 for proceeds of $0 and $433,500, respectively.

During the three months ended July 31, 2024 and 2023, the Company made repayment on principal balance of promissory notes of $25,500 and $103,000 and accrued interest of promissory notes of $550 and $5,941, respectively.

During the three months ended July 31, 2023, the Company issued 113,437 shares of common stock for the repayment of $18,150 of a promissory note.

During the three months ended July 31, 2023, the Company recorded stock payable of $57,390 for outstanding 300,000 stock for term extension of two promissory notes. This amount is reflected in interest expense in the statements of operations.

During the three months ended July 31, 2023, the Company recorded stock payable of $64,235 for outstanding 870,000 stock for loan inducement of promissory notes issued during the three months ended July 31, 2023.

During the three months ended July 31, 2024, the Company recorded stock payable of $32,908 for outstanding 216,000 stock for interest expense of two promissory notes.

During the year ended July 31, 2024 and 2023, the Company recorded interest expenses of $37,389 and $44,100, respectively. As of July 31, 2024 and April 30, 2024, the accrued interest payable was $232,984 and $196,145, respectively.