Related Party Transactions

6 Months Ended

May 31, 2025

Related Party Transactions [Abstract]

Related Party Transactions

Note 7 — Related Party Transactions

During the six months ended May 31, 2025, the Company repaid $36,050 of the loan from the Company’s Executive Chairman. This loan is recorded as a related party loan on the balance sheet. At the periods ending May 31, 2025 and November 30, 2024, the balance due to the Executive Chairman was $0 and $36,050, respectively. This loan has a 7% interest rate. During the six months ended May 31, 2025, the Company recorded $88 interest expense. At May 31, 2025, accrued interest payable due to the loan from the Executive Chairman totaled $21,278.

Under the terms of a consulting agreement with the Company’s Executive Chairman and CFO, the Company is obligated to compensate him $43,667 per month, consisting of $41,667 in consulting fees and a $2,000 monthly allowance. During the six months ended May 31, 2025, the Company incurred $262,000 in expenses related to the consulting agreement. During the six months ended May 31, 2025, the Company did not pay any consultant fees to the Executive Chairman and CFO. At the six months ended May 31, 2025, $655,000 remained unpaid under the agreement.

Under the terms of a consulting agreement with the Company’s President and Chief Executive Officer, the Company is obligated to compensate him $43,667 per month, consisting of $41,667 in consulting fees and a $2,000 monthly allowance. During the six months ended May 31, 2025, the Company incurred $262,000 in expenses related to the consulting agreement. During the six months ended May 31, 2025, the Company paid $46,000 consulting expense to the President and Chief Executive Officer. At the six months ended May 31, 2025, $301,834 remained unpaid under the agreement.

The Company reimburses related party business expenses. During the six months ended May 31, 2025, the Company incurred $5,830 related party business expenses and paid $106,194 which included all expenses owed to the Executive Chairman. At the six months ended May 31, 2025, the balance due to the Executive Chairman and CFO is $0.

During the six months ended May 31, 2025, the Company incurred $4,342 related party business expenses for the President and Chief Executive Officer. At the six months ended May 31, 2025, the balance due to the President and Chief Executive Officer is $4,342.