Related Party Transactions and Balances	9 Months Ended
Oct. 31, 2023
Related Party Transactions and Balances
Related Party Transactions and Balances	Note 4 – Related Party Transactions and Balances Advances from Related Party During the nine months ended October 31, 2023 and 2022, the Company received advances totaling $5,277 and $0 from Cheng-Hsiang Kao, the Company’s previous Chief Executive Officer who is also a major shareholder and operating expenses of $138,890 and $121,601 were paid on behalf of the Company. These advances are unsecured, non-interest bearing, and payable on demand. As of October 31, 2023 and January 31, 2023, the total amount of shareholder advances outstanding was $358,849 and $214,682, respectively. Due to Related Party The Company sources its inventory exclusively from a vendor wholly owned by shareholders who collectively hold more than 20% of the Company’s outstanding common shares as of October 31, 2023. These shareholders are also family members of the Company’s Chairman. As of October 31, 2023 and January 31, 2023, amounts due to this related party totaled $2,411,000 are disclosed in Accounts Payable – related party on the balance sheets.

Related Party Transactions and Balances

9 Months Ended

Oct. 31, 2023

Note 4 – Related Party Transactions and Balances

Advances from Related Party

During the nine months ended October 31, 2023 and 2022, the Company received advances totaling $5,277 and $0 from Cheng-Hsiang Kao, the Company’s previous Chief Executive Officer who is also a major shareholder and operating expenses of $138,890 and $121,601 were paid on behalf of the Company. These advances are unsecured, non-interest bearing, and payable on demand. As of October 31, 2023 and January 31, 2023, the total amount of shareholder advances outstanding was $358,849 and $214,682, respectively.

Due to Related Party

The Company sources its inventory exclusively from a vendor wholly owned by shareholders who collectively hold more than 20% of the Company’s outstanding common shares as of October 31, 2023. These shareholders are also family members of the Company’s Chairman. As of October 31, 2023 and January 31, 2023, amounts due to this related party totaled $2,411,000 are disclosed in Accounts Payable – related party on the balance sheets.

- 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 850
-SubTopic 10
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

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 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

VITASPRING BIOMEDICAL CO. LTD. 10-Q