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RELATED PARTY TRANSACTIONS
6 Months Ended
Oct. 31, 2022
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 5 - RELATED PARTY TRANSACTIONS

 

Advances from related party

 

The Company borrows funds from the Company’s affiliates for working capital purposes from time to time. The Company has recorded the principal balance due of $12,735 and $8,485 included under accounts payable - related party in the accompanying Balance Sheets at October 31, 2022 and April 30, 2022, respectively. The Company received advances of $400 (from C&R Films, C&R Films is controlled by Lamont Roberts, CEO and acting CFO of the Company) and $4,250 ($500 from C&R Films and $3,750 from Mike Criscione, Director on the Company’s Board of Directors), respectively, and no repayments for the three and six months ended October 31, 2022, respectively. The Company received advances of $0 and $4,000 (from Mike Criscione), respectively, and no repayments for the three and six months ended October 31, 2021, respectively.

 

Other

 

During the three and six months ended October 31, 2022 and 2021, the Company made no payments to Lamont Roberts, CEO and acting CFO of the Company, and Mr. Roberts incurred no expenses on behalf of the Company. The Company has a balance owed to Mr. Roberts of $250 at October 31, 2022.

 

During the three and six months ended October 31, 2022 and 2021, the Company made no payments to C&R Films for film production costs and reimbursement of various expenses. C&R Films paid expenses totaling $199 and $597, and $0 and $0 in the three and six months ended October 31, 2022 and 2021, respectively, in operating expenses including rent, filing expenses, and accounting costs on behalf of the Company. The Company received advances of $400 and $500 and had no repayments during the three and six months ended October 31, 2022, respectively. The Company received no advances of and had no repayments during the three and six months ended October 31, 2021, respectively. C&R Films is controlled by Lamont Roberts, CEO and acting CFO of the Company. The Company has a balance owed to C&R Films of $39,423 at October 31, 2022.

 

 

During the three and six months ended October 31, 2022 and 2021, the Company made no payments to Dos Cabezas for film production costs and reimbursement of various expenses. Dos Cabezas paid expenses totaling $0 and $0, and $0 and $0 in the three and six months ended October 31, 2022 and 2021, respectively, in operating expenses including accounting costs on behalf of the Company. Dos Cabezas is controlled by Lamont Roberts, CEO and acting CFO of the Company. The Company has a balance owed to Dos Cabezas of $14,394 at October 31, 2022.

 

During the three and six months ended October 31, 2022 and 2021, Kevin Frawley, an affiliate, paid expenses totaling $0 and $2,228, and $0 and $0, respectively, in operating expenses, including audit fees, on behalf of the Company. The Company has a balance owed to Mr. Frawley of $23,468 at October 31, 2022.

 

During the three months ended July 31, 2022 and 2021, the Company made no payments to Mike Criscione, Director, for reimbursement of various expenses. During the three and six months ended October 31, 2022 and 2021, Mr. Criscione paid expenses totaling $6,000 and $24,750, and $5,575 and $9,575, respectively, in operating expenses, including audit fees, on behalf of the Company. The Company received advances of $3,750 and $0 and had no repayments during the three months ended July 31, 2022 and 2021, respectively. The Company has a balance owed to Mr. Criscione of $56,650 at July 31, 2022.

 

Related party transactions have been disclosed in the other notes to these financial statements.