RELATED PARTY TRANSACTIONS AND BALANCES

12 Months Ended

Nov. 30, 2024

RELATED PARTY TRANSACTIONS AND BALANCES

RELATED PARTY TRANSACTIONS AND BALANCES

NOTE 6 – RELATED PARTY TRANSACTIONS AND BALANCES

Loan Payable – Related Party

Effective June 15, 2018, the Company entered a Loan Agreement with its former CEO. The lender agreed to lend a total of $50,000 payable in applicable installments over the Term of the loan. The CEO agreed to an interest rate of 0% and a Term of 5 years. Effective October 6, 2022, the CEO agreed to increase maximum amount of the Loan to $100,000 and extend the Term to 7 years or until June 15, 2025. The amount due under the Loan was $0 and $50,671 as of November 30, 2024 and 2023, respectively. During the year ended November 30, 2024 and 2023, the former director for the Company who resigned on August 28, 2024 upon change of control, made payments to vendors on behalf of the Company of $54,178 and $24,086 and was repaid of $0 and $30,494, respectively. During the year ended November 30, 2024 and 2023, imputed interest of $3,321 and $5,677 were incurred and recorded to additional paid-in capital, respectively. Upon his resignation on August 28, 2024, the loan to the former director of $104,696 was forgiven and recorded to additional paid in capital.

During the year ended November 30, 2024, the director of the Company made payment to vendors of $154 on behalf of the Company.

As of November 30, 2024 and November 30, 2023, the amount due to the related parties was $154 and $50,671, respectively.

Due from related party

As of November 30, 2024 and November 30, 2023, the amount due from the related party was $15,000 from a related company which holds 30% interest in Goldfinch Group Holdings Ltd. and $0, respectively.