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CONVERTIBLE NOTE PAYABLE

3 Months Ended

Jul. 31, 2024

NOTE 6 – CONVERTIBLE NOTE PAYABLE

As of July 31, 2024 and April 30, 2024, the convertible note payable was shown as follows:

		July 31,			April 30,
	Expiry Date	2024			2024
Convertible Note - February 2022	12/31/2025	$	206		$	206
Convertible Note - April 2022	12/31/2025		2,500			2,500
Convertible Note - July 2022	12/31/2025		7,600			7,600
Convertible Note - October 2022	12/31/2025		11,725			11,725
Convertible Note - January 2023	12/31/2025		12,500			12,500
Convertible Note - April 2023	12/31/2025		15,755			15,755
Convertible Note - July 2023	12/31/2025		14,394			14,394
Convertible Note - October 2023	12/31/2025		13,550			13,550
Convertible Note - January 2024	12/31/2025		48,437			48,437
Convertible Note - April 2024	12/31/2025		3,900			3,900
Convertible Note - July 2024	12/31/2025		16,394			-
			146,961			130,567
Less debt discount			(4,847	)		(5,708	)
		$	142,114		$	124,859

On February 11, 2022, the Company entered into an agreement with the unaffiliated note holder of the promissory note of $175,206 sold to him on February 4, 2022 for the amendment of the promissory note to convertible note which bears annual interest rate of 2%, has a maturity date of December 31, 2025 and is convertible at $0.35 per share for the Company common stock. With the adoption of ASU2020-06, the Company did not record beneficial conversion feature (“BCF”) on the convertible note. The Company assessed the note amendment for a debt extinguishment or modification in accordance with ASC 470-50. Although the change in fair value of the note from the note amendment was calculated at 3% which fell below 10% of the carrying value of the original convertible note, the additional of a note conversion feature indicates the note amendment is regarded as a note extinguishment. On February 11, 2022, gain on note extinguishment of $13,344 and note discount of $13,344 was recognized. On September 13, 2023, the Company issued 500,000 shares of common stock for the conversion of principal amount of $175,000. (Note 8) As of July 31, 2024, the convertible note payable was $206.

On April 30, 2022, the Company issued a convertible note of $2,500 for the amount the unaffiliated party paid to the vendors on behalf of the Company during the three months ended April 30, 2022. The note bears annual interest rate of 2%, has a maturity date of December 31, 2025 and is convertible at $0.35 per share for the Company common stock.

On July 31, 2022, the Company issued a convertible note of $7,600 for the amount the unaffiliated party paid to the vendors on behalf of the Company during the three months ended July 31, 2022. The note bears annual interest rate of 2%, has a maturity date of December 31, 2025 and is convertible at $0.35 per share for the Company common stock.

On October 31, 2022, the Company issued a convertible note of $11,725 for the amount the unaffiliated party paid to the vendors on behalf of the Company during the three months ended October 31, 2022. The note bears annual interest rate of 2%, has a maturity date of December 31, 2025 and is convertible at $0.35 per share for the Company common stock.

On January 31, 2023, the Company issued a convertible note of $12,500 for the amount the unaffiliated party paid to the vendors on behalf of the Company during the three months ended January 31, 2023. The note bears annual interest rate of 2%, has a maturity date of December 31, 2025 and is convertible at $0.35 per share for the Company common stock.

On April 30, 2023, the Company issued a convertible note of $15,755 for the amount the unaffiliated party paid to the vendors on behalf of the Company during the three months ended April 30, 2023. The note bears annual interest rate of 2%, has a maturity date of December 31, 2025 and is convertible at $0.35 per share for the Company common stock.

On July 31, 2023, the Company issued a convertible note of $14,394 for the amount the unaffiliated party paid to the vendors on behalf of the Company during the three months ended July 31 2023. The note bears annual interest rate of 2%, has a maturity date of December 31, 2025 and is convertible at $0.35 per share for the Company common stock.

On October 31, 2023, the Company issued a convertible note of $13,550 for the amount the unaffiliated party paid to the vendors on behalf of the Company during the three months ended October 31, 2023. The note bears annual interest rate of 2%, has a maturity date of December 31, 2025 and is convertible at $0.35 per share for the Company common stock.

On January 31, 2024, the Company issued a convertible note of $48,437 for the amount the unaffiliated party paid to the vendors on behalf of the Company during the three months ended January 31, 2024. The note bears annual interest rate of 2%, has a maturity date of December 31, 2025 and is convertible at $0.35 per share for the Company common stock.

On April 30, 2024, the Company issued a convertible note of $3,900 for the amount the unaffiliated party paid to the vendors on behalf of the Company during the three months ended April 30, 2024. The note bears annual interest rate of 2%, has a maturity date of December 31, 2025 and is convertible at $0.35 per share for the Company common stock.

On July 31, 2024, the Company issued a convertible note of $16,394 for the amount the unaffiliated party paid to the vendors on behalf of the Company during the three months ended July 31, 2024. The note bears annual interest rate of 2%, has a maturity date of December 31, 2025 and is convertible at $0.35 per share for the Company common stock.

During the three months ended July 31, 2024 and 2023, interest expense of $667 and $1,151 was incurred, respectively. As of April 30, 2024, accrued interest was $9,625 and $6,682, respectively.

During the three months ended July 31, 2024 and 2023, amortization on note discount of $861 and $861 was incurred, respectively.

As of July 31, 2024 and April 30, 2024, the convertible notes payable, net of note discount of $4,847 and $5,708, was $142,114 and $124,859, respectively.