Quarterly report pursuant to Section 13 or 15(d)

Due to Former Director - Related Party

v3.20.4
Due to Former Director - Related Party
6 Months Ended
Dec. 31, 2020
Related Party Transactions [Abstract]  
Due to Former Director - Related Party

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 December 31, 2020 and June 30, 2020 is $34,263 and $30,639, respectively. The Company plans to repay the advances as its cash resources allow (see Note 9).