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NOTE 11 -LOAN PAYABLE

3 Months Ended

Jul. 31, 2021

NOTE 11 -LOAN PAYABLE

Short-term loan payable

Short-term loans are obtained from various individual lenders that are due within one year for working capital purpose. These loans are unsecured and can be renewed with 10 days advance notice prior to maturity date. As of July 31, 2021 and April 30, 2021, short-term loans consisted of the following:

	July 31, 2021 (unaudited)	April 30, 2021
Loan from Min Wu, an employee of Qufu Shengren, due on October 5, 2021, with an annual interest rate of 10%, renewed on October 6, 2020.	`$34,048`	`$34,019`
Loans from Jianjun Yan, non-related individual, due on October 6, 2021, with an annual interest rate of 10%, renewed at on October 7, 2020.	`1,507,892`	`1,506,610`
Loan from Jianjun Yan, due on March 31, 2022, with annual interest rate of 4%, renewed on April 1, 2021.	`807,398`	`806,711`
Loan from Jianjun Yan, due from May 13, 2022 to July 27, 2022, with annual interest rate of 12%, sign on period from May 14, 2021 to July 28, 2021.	`1,114,292`	`-`
Loan from Junzhen Zhang, non-related individual, due on October 5, 2021, with an annual interest rate of 12%, renewed on October 6, 2020.	`27,238`	`27,215`
Loan from Junzhen Zhang, non-related individual, due on November 30, 2021, with an annual interest rate of 10%, signed on December 1, 2020.	`21,667`	`21,648`
Loan from Jian Chen, non-related individual, due on May 20, 2022, with an annual interest rate of 10%, signed on May 21, 2021.	`77,381`	`-`
Loan from Qing Kong, non-related individual, due on March 6, 2022, with an annual interest rate of 10%, renewed on March 7, 2021.	`98,739`	`98,655`
Loan from Qing Kong, non-related individual, due on January 8, 2022, with an annual interest rate of 10%, renewed on January 9, 2021.	`41,198`	`41,163`
Loan from Guihai Chen, non-related individual, due on March 9, 2022, with an annual interest rate of 10%, renewed on March 10, 2021.	`24,685`	`24,664`
Loan from Guihai Chen, non-related individual, due on September 20, 2021, with an annual interest rate of 10%, renewed on September 21, 2020, and accrued interest converted into debt principal.	`37,453`	`37,421`
Loan from Weifeng Kong, non-related individual, due on November 28, 2021, with an annual interest rate of 10%, renewed on November 29, 2020.	`30,953`	`30,926`
Loan from Huagui Yong, non-related individual, due on April 8, 2022, with an annual interest rate of 6.3%, renewed on April 9, 2021.	`77,381`	`77,316`
Loan from Guohui Zhang, non-related individual, due on January 16, 2022, with an annual interest rate of 4% signed on January 17, 2021.	`249,168`	`248,956`
Total short-term loan payable	`$4,149,493`	`$2,955,304`

For the three months ended July 31, 2021 and 2020, interest expense related to short-term loans amounted to $67,069 and $62,531, respectively, which were included in interest expense in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss.