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NOTE PAYABLE
6 Months Ended
Mar. 31, 2024
NOTE PAYABLE  
NOTE PAYABLE

NOTE 4 – NOTE PAYABLE

 

On August 7th, 2017, the company obtained an unsecured, nonrecourse and open-ended loan of $50,000. The loan incurs interest at 15% per annum. On December 30, 2013, the Company received a $56,978 Demand Instalment Loan from Bruce Miller. The loan incurs interest at 12 % per annum. Mr. Miller is a personal acquaintance with our CEO. The loans are unsecure, nonrecourse and open ended. The loans require monthly repayment of principal and interest of $750.00 each.

 

During the year ended September 30, 2023, a previously related party, Mr. Brian Kistler (New Opportunity Business Solutions) loaned the company $8,531 for operations.

 

The following sets forth the principal and interest loan balance for the periods ended:

 

 

 

March 31,

 

 

September 30,

 

 

 

2024

 

 

2023

 

Note payable – Bruce Miller

 

$86,289

 

 

$86,289

 

Note payable – New Opportunity Business Solutions

 

 

40,061

 

 

 

40,061

 

Accrued interest

 

 

6,087

 

 

 

330

 

Total note payable and accrued interest

 

$132,437

 

 

$126,680