RELATED PARTY TRANSACTIONS |
6 Months Ended |
|---|---|
Oct. 31, 2025 | |
| RELATED PARTY TRANSACTIONS | |
| RELATED PARTY TRANSACTIONS | NOTE - 3: RELATED PARTY TRANSACTIONS
Management and administrative services are currently compensated as per a Service Agreement between the Company and its Chief Executive Officer and Director executed on April 25, 2016 and a Service Agreement with the subsidiary PSSI executed on January 12, 2017, a Service Agreement between the Company and a Director executed on May 20, 2016, and an Administration Agreement with a related party executed on March 15, 2011 and renewed on May 1, 2017 and renewed in August 21, 2020 plus the assumption of a Service Agreement with the subsidiary PSSI assumed on January 12, 2017 and renewed on August 21, 2020, whereby the fee is based on services provided and invoiced by the related parties on a monthly basis and the fees are paid in cash when possible or with common stock. The Company also, from time to time, has some of its expenses paid by related parties with the intent to repay. These types of transactions, when incurred, result in payables to related parties in the Company’s consolidated financial statements as a necessary part of funding the Company’s operations.
On May 1, 2022, the Company entered into a loan agreement with EMAC Handels AG for short term loans up to $100,000. The loans bear interest at 6% per annum. As of October 31, 2025, the outstanding balance on the loan agreement was $117,708 plus accrued interest.
During the six months ending October 31,2024 the Company issued 10,686,860 shares of common stock for the conversion of 1,068,686 of Series B preferred shares.
During the six months ending October 31,2024 the Company issued 10,000,000 with an aggregate value of $695,000 for the payment of related party debt. As part of the conversion the Company recognized a loss on notes of $295,000.
During the six months ending October 31, 2024 the Company issued 79,991 shares of series B preferred with a value of $329,930 to 2 related parties for accrued liabilities. The transaction resulted in a gain on debt settlement which was recorded as paid in capital.
As of October 31, 2025, and April 30, 2025, the Company had payable balances due to related parties totaling $937,877 and $747,208, respectively. |