XML 20 R8.htm IDEA: XBRL DOCUMENT v3.21.2
Due to Shareholder
6 Months Ended
Jul. 31, 2021
Related Party Transactions [Abstract]  
Due to Shareholder DUE TO SHAREHOLDERThe Company has a Credit Facility with its majority shareholder, whereby, the Credit Facility provides the principal amount up to $600,000, as amended as of September 10, 2021, of financing to the Company for working capital purposes. Amounts outstanding under the credit facility accrue interest at an annual rate of 11% and mature in December 2023. As of July 31, 2021 and January 31, 2021, respectively, principal and interest outstanding under the credit facility totaled $831,091 and $781,522, including principal of $491,916 and $469,197, respectively, and accrued interest of $339,175 and $312,325, respectively. Interest expense related to the credit facility was $13,773 and $12,908 for the three months ended July 31, 2021 and 2020, respectively; and, $26,850 and $25,536 for the six months ended July 31, 2021 and 2020, respectively.