NOTES PAYABLE

6 Months Ended

Oct. 31, 2023

Debt Disclosure [Abstract]

NOTES PAYABLE

Note 5 – NOTES PAYABLE

Related Party Convertible Loan

An officer of the Company has provided a loan to TSR under a convertible promissory note. This convertible promissory note is unsecured, non-interest bearing, and is convertible into common shares of the Company stock at $2.75 per share and due on demand. The balance due to the officer was $60,890 as of October 31 and April 30, 2023.

On April 20, 2022, the Company entered into a convertible note payable with an individual who is a member of the Company’s Board of Directors. The convertible note payable, with a face value of $50,000, bears interest at 10.0% per annum and was due on July 21, 2022. The convertible note payable is convertible upon default, at the note holder’s option, into the Company’s common shares at a fixed conversion rate of $0.05. The conversion of the note into shares of the Company’s common stock is potentially highly dilutive to current shareholders. If the note holder elects to sell the shares that it has acquired as a result of converting the note into shares of common stock, then any such sales may result in a significant decrease in the market price of the Company’s shares. This convertible promissory note was converted to common stock during the six months ended October 31, 2023. 

Short Term Loans

As of October 31 and April 30, 2023, the Company had a loan totaling $2,700 with a non-related party. This loan is unsecured, non-interest bearing and due on demand.

On August 1, 2023, the Company entered into a convertible note payable with an individual who is a member of the Company’s Board of Directors.  The note payable, with a face value of $50,000, bears interest at 10.0% per annum and is due on August 1, 2024. The convertible note payable is convertible upon default, at the note holder’s option, into the Company’s common shares at a fixed conversation rate of $0.01. The conversion of the note into shares of the Company’s common stock is potentially highly dilutive to current shareholders. If the note holder elects to sell the shares that it has acquired as a result of converting the note into shares of common stock, then any such sales may result in a significant decrease in the market price of the Company’s shares.  This convertible promissory note is currently in default due to non payment of principal and interest.

Convertible Notes Payable 

The following table reflects the convertible notes payable as of October 31 and April 30, 2023:

	Issue Date	Maturity Date	October 31, 2023 Principal Balance		April 30, 2023 Principal Balance		Rate	Conversion Price
Convertible notes payable
	4/26/2021	4/26/2023	$	112,975	$	112,975	15.00%	0.028
	5/5/2021	5/5/2022		150,000		150,000	10.00%	0.10
	5/7/2021	2/1/2023		80,000		100,000	10.00%	0.10
	5/19/2021	2/19/2023		150,000		150,000	10.00%	0.10
	12/06/2021	2/6/2023		70,666		70,666	15.00%	0.10
Balance convertible notes payable			$	563,641	$	583,641