NOTE 5 – RELATED PARTY TRANSACTIONS |
12 Months Ended | ||||
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Sep. 30, 2021 | |||||
| Related Party Transactions [Abstract] | |||||
| NOTE 5 – RELATED PARTY TRANSACTIONS | NOTE 5 – RELATED PARTY TRANSACTIONS
In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders or directors. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances were considered temporary in nature and were not formalized by a signed promissory note.
On July 6, 2020, Joseph Passalaqua, an officer and Related Party, advanced the Company $1,500 to cover the Company’s legal fees. This amount is non-interest bearing, payable on demand and unsecured. As of the September 30, 2021, the outstanding balance on this amount is $1,500.
On September 29, 2020, Joseph Passalaqua, an officer and Related Party, advanced the Company $2,660 to cover the Company’s renewal with the State of Nevada. This amount is non-interest bearing, payable on demand and unsecured. As of September 30, 2021, the outstanding balance on this amount is $2,660.
On October 14, 2020, Joseph Passalaqua, an officer and Related Party of the Company advanced the Company $2,000 to cover the Company’s Transfer Agent fees. The amount was non-interest bearing, payable on demand and unsecured. On October 31, 2020, the Company issued 70,000,000 shares of Common Stock to Friction & Heat LLC; Joseph Passalaqua as Managing Member, in exchange for debt in the amount of $2,000 paid to the Company’s Transfer Agent. As of September 30, 2021, this amount is paid in full.
On November 16, 2020, Joseph Passalaqua, an officer and Related Party of the Company advanced the Company $2,045 to cover the Company’s Transfer Agent fees. This amount is non-interest bearing, payable on demand and unsecured. As of September 30, 2021, the outstanding balance on this amount is $2,045.
On February 25, 2021, Joseph Passalaqua, an officer and Related Party advanced the Company $325 to cover the Company’s Amendment with Nevada. This amount is non-interest bearing, payable on demand and unsecured. As of September 30, 2021, the outstanding balance on this amount is $325.
On March 4, 2021 and May 25, 2021, Joseph Passalaqua, an officer and Related Party advanced the Company $1,950 and $500, respectively to cover the Company’s Transfer Agent fees. These amounts are non-interest bearing, payable on demand and unsecured. As of September 30, 2021, the outstanding balance on these amounts is $1,950 and $500.
On May 28, 2021 and June 10, 2021, Joseph Passalaqua, an officer and Related Party advanced the Company $4,934 and $ 2,266, respectively to cover the Company’s Auditor/CPA fees. These amounts are non-interest bearing, payable on demand and unsecured. As of September 30, 2021, the outstanding balance on these amounts is $4,934 and $2,266.
On June 21, 2021, Joseph Passalaqua, an officer and Related Party advanced the Company $100 to cover the Company’s EDGAR filing fees. This amount is non-interest bearing, payable on demand and unsecured. As of September 30, 2021, the outstanding balance on this amount is $100.
On July 23, 2021, Joseph Passalaqua, an officer and Related Party advanced the Company $480 to cover the Company’s Secretary of State of Delaware and Broadridge fees. This amount is non-interest bearing, payable on demand and unsecured. As of September 30, 2021, the outstanding balance on this amount is $480.
On August 8, 2021, Joseph Passalaqua, an officer and Related Party advanced the Company $1,133 to cover the Company’s Auditor/CPA fees. This amount is non-interest bearing, payable on demand and unsecured. As of September 30, 2021, the outstanding balance on this amount is $1,113.
On September 3, 2021, Joseph Passalaqua, an officer and Related Party advanced the Company $2,000 to cover the Company’s Legal fees. This amount is non-interest bearing, payable on demand and unsecured. As of September 30, 2021, the outstanding balance on this amount is $2,000.
The total amount as of the year end September 30, 2021 due to Joseph Passalaqua, an officer and Related party, for payment of company expenses is $19,893.
During the years ended September 30, 2019 to September 30, 2021, Lyboldt-Daly, Inc; its sole officer is Joseph Passalaqua, who is also an officer and Related Party of Nine Alliance Science and Technology Group, Inc., provided the internal accounting for the Company. As of year ended September 30, 2021, $5,250 is currently due for these services.
The Company currently operates out of an office of a related party free of rent.
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