General form of registration statement for all companies including face-amount certificate companies

Due to Former Director - Related Party

v3.19.3.a.u2
Due to Former Director - Related Party
3 Months Ended 12 Months Ended
Sep. 30, 2019
Jun. 30, 2019
Related Party Transactions [Abstract]    
Due to Former Director - Related Party

NOTE 3 – DUE TO FORMER DIRECTOR - RELATED PARTY

 

Due to director - related party represents unsecured advances made primarily by a former director for operating expenses on behalf of the Company such as intellectual property and formation expenses. The expenses were paid for on behalf of the Company and are due upon demand. The Company is currently not being charged interest under these advances. The total amount owed the former director at September 30, 2019 and June 30, 2019 is $29,995 and $31,164, respectively. The Company plans to repay the notes as its cash resources allow.

NOTE 4 – DUE TO FORMER DIRECTOR - RELATED PARTY

 

Due to director - related party represents unsecured advances made primarily by a former director for operating expenses on behalf of the Company such as intellectual property and formation expenses. The expenses were paid for on behalf of the Company and are due upon demand. The Company is currently not being charged interest under these advances. The total amount owed the former director at June 30, 2019 and 2018 is $31,164 and $32,898, respectively. The Company plans to repay the notes as its cash resources allow.