v3.26.1
RELATED PARTY TRANSACTIONS
 12 Months Ended
Mar. 31, 2026
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 7 – RELATED PARTY TRANSACTIONS

          
Related Party Payables:        
   March 31, 2026   March 31, 2025 
Payable to Chief Executive Officer  $31,072   $6,593 
Payable to sole stockholder of Millenium EBS Inc., Director   2,085    508,302 
Payable to Millenium Consultants, Inc.   2,740    108,933 
Total  $35,897   $623,828 

 

The Company’s Chairman, from time to time, has provided advances to the Company for its working capital purposes. The Chairman had net outstanding advances to the Company totaling $31,072 and $6,593 as of March 31, 2026 and 2025, respectively, which is included in related party payables on the consolidated balance sheet. 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. The initial term of the employment agreement is automatically renewed for successive one-year periods unless either party gives ninety (90) calendar days written notice of nonrenewal prior to the expiration of the then-current term. The Company has recorded in general and administrative expenses compensation expense of $112,808 and $209,633 for the years ended March 31, 2026 and 2025, respectively. The total compensation payable to the CEO was $890,765 and $780,958, as of March 31, 2026 and 2025, respectively (Note 8).

 

Pursuant to the terms of MEI acquisition, the Company is obligated to pay to the sole selling stockholder of MEI cash consideration of $500,000 within 90 days of the closing of the transaction (Note 5). As of March 31, 2025, the Company has paid $70,000 of this balance. In addition, the Company entered into a consulting agreement with the sole selling stockholder of MEI, agreeing to pay monthly consulting fee of $16,000 for ongoing services upon close of MEI acquisition. The Company has recorded a consulting expense of $80,000 payable to the sole selling stockholder for the period ended March 31, 2025 which is included in related party payables on the consolidated balance sheets. The total amount payable to the sole shareholder amounted to $508,302 as of March 31, 2025 which consisted of $430,000 of the acquisition payable and $78,302 of other amounts due. On March 4, 2026, the $430,000 owed to Shinto Matthew was converted into equity. The sole shareholder of MEI was appointed as a member of the Board of Directors of the Company upon consummation of the acquisition of MEI.

 

As of March 31, 2026, the Company is obligated to pay for services to Millenium Consultants, Inc., an entity owned by sole selling stockholder of MEI and director, totaling $2,740.