NOTE 11 -LOAN PAYABLE

6 Months Ended

Oct. 31, 2022

Notes

NOTE 11 -LOAN PAYABLE

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 and accrued interest converted into debt principal. As of October 31, 2022 and April 30, 2022, short-term loans consisted of the following:

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	October 31, 2022	April 30, 2022
Loan from Min Wu, an employee of Qufu Shengren, due on October 5, 2023, with an annual interest rate of 10%, renewed on October 6, 2022.	$30,134	$33,393
Loan from Jianjun Yan, due on October 6, 2023, with an annual interest rate of 10%, renewed on October 7, 2022.	1,614,802	1,626,763
Loan from Jianjun Yan, due on April 18, 2023, with annual interest rate of 4%,  renewed on April 19, 2022 for the term of one year.	121,494	134,633
Multiple loans from Jianjun Yan, due from May 13, 2023 to August 22, 2023, with annual interest rate of 12%, sign on period from May 14, 2022 to August 23, 2022. Partially repaid RMB2,165,000 ($315,851) in the six months ended October 31, 2022.	1,206,676	1,490,521
Loan from Junzhen Zhang, non-related individual, due on October 5, 2023, with an annual interest rate of 10%, renewed on October 6, 2022.	29,169	29,385
Loan from Junzhen Zhang, non-related individual, due on November 30, 2023, with an annual interest rate of 10%, signed on December 1, 2022.	21,094	23,375
Multiple loans from Jian Chen, non-related individual, due from May 20, 2023 to November 14, 2023, with an annual interest rate of 12%, signed from May 21, 2022 to November 15, 2022.	1,069,644	1,066,928
Loan from Qing Kong, non-related individual, due on March 6, 2023, with an annual interest rate of 10%, renewed on March 7, 2022.	96,126	106,522
Loan from Qing Kong, non-related individual, due on January 8, 2023, with an annual interest rate of 10%, renewed on January 9, 2022.	40,108	44,445
Loan from Guihai Chen, non-related individual, due on March 9, 2023, with an annual interest rate of 10%, renewed on March 10, 2022.	24,032	26,631
Loan from Guihai Chen, non-related individual, due on September 20, 2023, with an annual interest rate of 10%, renewed on September 21, 2022.	40,108	40,405
Loan from Weifeng Kong, non-related individual, due on November 28, 2023, with an annual interest rate of 10%, renewed on November 29, 2022.	27,394	30,357
Loan from Guohui Zhang, non-related individual, due on January 16, 2022, with an annual interest rate of 4% signed on January 17, 2021.	-	254,148
Total short-term loan payable	$4,320,781	$4,907,506

For the three and six months ended October 31, 2022 and 2021, interest expense related to short-term loans amounted to $119,869 and $24,582, and $247,726 and $38,156, respectively, which were included in interest expense in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss.