RELATED PARTY TRANSACTIONS

6 Months Ended

Sep. 30, 2023

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 6 – RELATED PARTY TRANSACTIONS

The Company’s Chief Executive Officer (“CEO”), from time to time, has provided advances to the Company for its working capital purposes. The CEO had advanced funds to the Company totaling $25,765 as of September 30, 2023 and March 31, 2023, respectively. The funds advanced are unsecured, non-interest bearing, and due on demand.

On December 1, 2020, the Company entered into an employment agreement with its CEO for a three-year term, for an annual compensation of $150,000 with a 10% annual increase in compensation effective October 1 of each year (See Note 7). The Company has recorded in general and administrative expenses compensation expense of $45,375 and $90,750 for the three months and six months ended September 30, 2023 and $41,250 and $82,500 for the same comparable periods of 2022, respectively. Compensation payable to the CEO was $471,500 and $380,750 as of September 30, 2023 and March 31, 2023, respectively.

BLUEONE CARD, INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

September 30, 2023

(Unaudited)