Annual report pursuant to Section 13 and 15(d)

Related Party Transactions

v3.21.2
Related Party Transactions
12 Months Ended
Mar. 31, 2021
Related Party Transactions  
Related Party Transactions

7. Related Party Transactions

At March 31, 2020 there was an outstanding loan to the Chief Technology Officer (“CTO”) of the Company of $18,000. The loan has an interest rate of 2% based on the Canada Revenue Agency’s prescribed rate for such advances and is denominated in Canadian dollars. During the years ended March 31, 2021 and 2020, the Company recorded interest income of $900 and $500, respectively.  During the year ended March 31, 2021, the balance to this loan was forgiven and as such there is no balance at March 31, 2021.