RELATED PARTY TRANSACTIONS	9 Months Ended
Jan. 31, 2023
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 7 – RELATED PARTY TRANSACTIONS The Company has previously accrued $777,111 comprised of $740,000 for unpaid former officer compensation and $37,111 for the employer’s share of payroll taxes related to the unpaid former officer compensation in the accompanying Balance Sheets at January 31, 2023 and April 30, 2022, respectively. The accrued compensation is related to two former officers and the Company believes that because of the termination of all officers, there is no employment agreement or compensation due to the former officers. At January 31, 2023 and April 30, 2022, the Company has recorded $178,847 and $210,868, respectively of accounts payable – related parties for Company related expenses. The January 31, 2023, balance of $178,847 is comprised of (1) $167,550 owed to the President, CEO, and member of the Board of Directors for payments made on behalf of the Company, (2) $10,961 owed to the CFO of the Company and (3) $336 owed to the SVP of Football Operations. The $167,550 owed to the President, CEO and member of the Board of Directors includes $121,350 of expenses related to a consulting agreement with the Company and $46,200 of expenses related to an office in home. The $10,961 owed to the Chief Financial Officer of the Company is for the accrual of unpaid payroll from February 1, 2022 to February 25, 2022. The $336 owed to the Senior Vice President of Football Operations is for accrued and unpaid expenses paid on behalf of the Company. On March 5, 2020 and August 12, 2020, a member of the Board of Directors, provided $55,000 of proceeds to the Company through the issuance of two Note Payables, one for $25,000 and another for $30,000. The Note Payable terms include an annual interest rate of 10% and are both payable on April 30, 2023, by virtue of an extension. See Note 4 – Debt. For the three and nine months ended January 31, 2023, the Company recorded $1,386 and $4,158, respectively of interest expense and for the three and nine months ended January 31, 2022, the Company recorded $1,386 and $4,158 in the accompanying unaudited Statements of Operations. At January 31, 2023 and April 30, 2022, the Company has recorded $14,687 and $10,529 of accrued interest, related party in the accompanying Balance Sheets.

RELATED PARTY TRANSACTIONS

9 Months Ended

Jan. 31, 2023

NOTE 7 – RELATED PARTY TRANSACTIONS

The Company has previously accrued $777,111 comprised of $740,000 for unpaid former officer compensation and $37,111 for the employer’s share of payroll taxes related to the unpaid former officer compensation in the accompanying Balance Sheets at January 31, 2023 and April 30, 2022, respectively. The accrued compensation is related to two former officers and the Company believes that because of the termination of all officers, there is no employment agreement or compensation due to the former officers.

At January 31, 2023 and April 30, 2022, the Company has recorded $178,847 and $210,868, respectively of accounts payable – related parties for Company related expenses. The January 31, 2023, balance of $178,847 is comprised of (1) $167,550 owed to the President, CEO, and member of the Board of Directors for payments made on behalf of the Company, (2) $10,961 owed to the CFO of the Company and (3) $336 owed to the SVP of Football Operations.

The $167,550 owed to the President, CEO and member of the Board of Directors includes $121,350 of expenses related to a consulting agreement with the Company and $46,200 of expenses related to an office in home. The $10,961 owed to the Chief Financial Officer of the Company is for the accrual of unpaid payroll from February 1, 2022 to February 25, 2022. The $336 owed to the Senior Vice President of Football Operations is for accrued and unpaid expenses paid on behalf of the Company.

On March 5, 2020 and August 12, 2020, a member of the Board of Directors, provided $55,000 of proceeds to the Company through the issuance of two Note Payables, one for $25,000 and another for $30,000. The Note Payable terms include an annual interest rate of 10% and are both payable on April 30, 2023, by virtue of an extension. See Note 4 – Debt.

For the three and nine months ended January 31, 2023, the Company recorded $1,386 and $4,158, respectively of interest expense and for the three and nine months ended January 31, 2022, the Company recorded $1,386 and $4,158 in the accompanying unaudited Statements of Operations. At January 31, 2023 and April 30, 2022, the Company has recorded $14,687 and $10,529 of accrued interest, related party in the accompanying Balance Sheets.

MAJOR LEAGUE FOOTBALL INC 10-Q