Related Party Transactions	3 Months Ended
Sep. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Note 6. Related Party Transactions Advances from related party: On March 31, 2021, we entered into a Loan Agreement with New York Listing Management Inc (“NYLM”), a significant shareholder of the Company, under which we are able to receive funding of up to $200,000 for general operating expenses from time to time as needed by the Company (the “Loan Agreement”). The Loan Agreement bears an interest rate of 8% per annum and shall be due and payable on a date 366 days from the date of the loan. On April 1, 2022, the Loan Agreement was extended to March 31, 2023. On April 1, 2023, the Loan Agreement was re-signed. Under the new term, the loan has no expiration, is due on demand, and the borrowing limit has been increased to $800,000. Since the Company does not have a bank account, purchases of inventory for sale are financed by the Loan Agreement with NYLM. The Loan Agreement also gives the right to NYLM to collect cash receipts from sales of the inventory on the Company’s behalf based on a profit-sharing arrangement the Company has with Rocitin. For the three months ended September 30, 2023, NYLM financed the purchase of 2,000 bottles of Rocitin NMN for a total of $128,172 and collected $249,623 in cash receipts. As of September 30, 2023 and June 30, 2023, the outstanding balance on the Loan Agreement was 337,732 and $415,601, with accrued interest of $15,861 and $7,812, respectively. During the three months ended September 30, 2023 and September 30, 2022, the Company repaid $77,869 and borrowed $23,879, respectively, under the Loan Agreement. During the three months ended September 30, 2023 and September 30, 2022 the Company expensed interest of $8,049 and $4,027, respectively, related to the Loan Agreement.

Related Party Transactions

3 Months Ended

Sep. 30, 2023

Note 6. Related Party Transactions

Advances from related party:

On March 31, 2021, we entered into a Loan Agreement with New York Listing Management Inc (“NYLM”), a significant shareholder of the Company, under which we are able to receive funding of up to $200,000 for general operating expenses from time to time as needed by the Company (the “Loan Agreement”). The Loan Agreement bears an interest rate of 8% per annum and shall be due and payable on a date 366 days from the date of the loan. On April 1, 2022, the Loan Agreement was extended to March 31, 2023. On April 1, 2023, the Loan Agreement was re-signed. Under the new term, the loan has no expiration, is due on demand, and the borrowing limit has been increased to $800,000.

Since the Company does not have a bank account, purchases of inventory for sale are financed by the Loan Agreement with NYLM. The Loan Agreement also gives the right to NYLM to collect cash receipts from sales of the inventory on the Company’s behalf based on a profit-sharing arrangement the Company has with Rocitin. For the three months ended September 30, 2023, NYLM financed the purchase of 2,000 bottles of Rocitin NMN for a total of $128,172 and collected $249,623 in cash receipts.

As of September 30, 2023 and June 30, 2023, the outstanding balance on the Loan Agreement was 337,732 and $415,601, with accrued interest of $15,861 and $7,812, respectively. During the three months ended September 30, 2023 and September 30, 2022, the Company repaid $77,869 and borrowed $23,879, respectively, under the Loan Agreement. During the three months ended September 30, 2023 and September 30, 2022 the Company expensed interest of $8,049 and $4,027, respectively, related to the Loan Agreement.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Ecomax, Inc 10-Q