Related Party Transactions

9 Months Ended

Sep. 30, 2021

Related Party Transactions

Note 4 - Related Party Transactions

Note 4 – Related Party Transactions

Note Payable

Pursuant to corporate change (see Note 1), the Company issued a promissory note of $50,000 to the Company’s CEO, bearing interest at an annual rate of 7.5% and mature on May 10, 2022. For the nine months ended September 30, 2021, the Company recorded interest expenses of $1,469. As of September 30, 2021, the Company was obliged for this interest-bearing promissory note with a balance of $50,000 and accrued interest of $1,469.

Other

As at September 30, 2021 and December 31, 2020, $9,355 is accrued for salary to our former Chief Executive Officer.

During the three and nine months ended September 30, 2021, the Company paid $4,356 and $10,553 management fees to the Company’s sole member, respectively.