NOTE 11 - LOAN PAYABLE

3 Months Ended

Jul. 31, 2020

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. As of July 31, 2020 and April 30, 2020, short-term loans consisted of the following:

	July 31, 2020 (unaudited)	April 30, 2020
Loan from Min Wu, an employee of Qufu Shengren, due on October 5, 2020, with an annual interest rate of 10%, renewed at October 6, 2019.	$31,542	$31,210
Loans from Jianjun Yan, non-related individual, due on October 6, 2020, with an annual interest rate of 10% at October 7, 2017, renewed at on October 7, 2019.	1,269,928	1,256,562
Loan from Jianjun Yan, non-related individual, due on March 31, 2021, with annual interest rate of 4%, renewed at April 1, 2020.	713,956	1,202,965
Loan from Junzhen Zhang, non-related individual, due on October 5, 2020, with an annual interest rate of 10%, renewed at October 6, 2019.	22,940	22,698
Loan from Jian Chen, non-related individual, due on January 27, 2021 and April 11, 2021, bearing an annual interest rate of 10%, with the principal amount of RMB770,000 ($109,236) and RMB440,000 ($62,420), renewed on January 27, 2020 and April 11, 2020, respectively. The Company repaid off these loans and accrued interest to him as of July 31, 2020.	0	171,656
Loan from Qing Kong, non-related individual, due on March 6, 2021, with an annual interest rate of 10%, renewed on March 7, 2020.	83,157	82,281
Loan from Qing Kong, non-related individual, due on January 8, 2021, with an annual interest rate of 10%, renewed on January 9, 2020.	34,696	34,331
Loan from Guihai Chen, non-related individual, due on March 9, 2021, with an annual interest rate of 10%, renewed on March 10, 2020.	20,789	20,570
Loan from Guihai Chen, non-related individual, due on September 20, 2020, with an annual interest rate of 10%, renewed at September 21, 2019.	31,542	31,210
Loan Weifeng Kong, non-related individual, due on November 28, 2020, with an annual interest rate of 10%, renewed on November 29, 2019.	28,675	28,373
Loan from Huagui Yong, non-related individual, due on April 8, 2021, with an annual interest rate of 6.3% at April 9, 2020.	71,687	70,932
Loan from Guohui Zhang, non-related individual, due on January 16, 2021, with an annual interest rate of 4% at January 17, 2020.	430,120	425,592
Total	$2,739,032	$3,378,380

For the three months ended July 31, 2020 and 2019, interest expense related to short-term loans amounted to $62,531 and $144,787, respectively, which were included in interest expense in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss.