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PPP LOANS PAYABLE
12 Months Ended
Apr. 30, 2022
PPP LOANS PAYABLE  
PPP LOANS PAYABLE

NOTE 8 – PPP LOANS PAYABLE

 

With an effective date of January 25, 2021, a loan to the Company was approved under the terms and conditions of the Paycheck Protection Program of the United States Small Business Administration (“SBA”) and the CARES Act (2020) (H.R. 748) (15 U.S.C. 636 et seq.) (“the Act”) in the amount of $150,000 and was funded on January 26, 2020.  During the year ended April 30, 2022, the Company was notified that its loan was forgiven pursuant to the provisions of the Act, therefore $150,000 was recorded as a gain on extinguishment of liabilities.