RELATED PARTY TRANSACTIONS AND BALANCES	9 Months Ended
Jun. 30, 2024
RELATED PARTY TRANSACTIONS AND BALANCES
RELATED PARTY TRANSACTIONS AND BALANCES	NOTE 5 - RELATED PARTY TRANSACTIONS AND BALANCES Pursuant to shares transaction dated January 12, 2024 (see Note 1), the Company’s prior shareholder and sole director and officer (Haiping Hu) assigned the outstanding balance due from the Company through the change of control in the amount of $252,213 to two new shareholders (Kaichen Zheng, also the current sole director and Shitong Li, also the current sole officer) by 50% each. The assigned balance is unsecured, non-interest-bearing and due on demand. In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such a time that the Company can support its operations or attain adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders or directors. Shareholder’s amounts represent advances or amounts paid on behalf of the Company in satisfaction of liabilities. The advances were considered temporary in nature and were not formalized by a promissory note. During the three months ended June 30, 2024, and 2023, the Company’s prior shareholder and sole director and officer advanced to the Company an amount of $0 and $1,185, respectively by paying for expenses on behalf of the Company. During the three months ended June 30, 2024, and 2023, the Company’s current shareholders advanced to the Company an amount of $19,846 and $0, respectively by paying for expenses on behalf of the Company. During the nine months ended June 30, 2024, and 2023, the Company’s prior shareholder and sole director and officer advanced to the Company an amount of $69,720 and $36,037, respectively by paying for expenses on behalf of the Company. During the nine months ended June 30, 2024, and 2023, the Company’s current shareholders advanced to the Company an amount of $21,463 and $0, respectively by paying for expenses on behalf of the Company. As of June 30, 2024, the Company was obligated to the current shareholders for a total balance of $273,676 (including assigned balance of $252,213 from prior shareholder), which is unsecured, non-interest-bearing and due on demand. Kaichen Zheng, the current major shareholder and sole director, and Shitong Li, the current major shareholder and sole officer, each have a balance of $136,838 as of June 30, 2024. As of September 30, 2023, the Company was obligated to the prior shareholder and sole director and officer for a balance of $182,493, which is unsecured, non-interest-bearing and due on demand.

RELATED PARTY TRANSACTIONS AND BALANCES

9 Months Ended

Jun. 30, 2024

NOTE 5 - RELATED PARTY TRANSACTIONS AND BALANCES

Pursuant to shares transaction dated January 12, 2024 (see Note 1), the Company’s prior shareholder and sole director and officer (Haiping Hu) assigned the outstanding balance due from the Company through the change of control in the amount of $252,213 to two new shareholders (Kaichen Zheng, also the current sole director and Shitong Li, also the current sole officer) by 50% each. The assigned balance is unsecured, non-interest-bearing and due on demand.

In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such a time that the Company can support its operations or attain adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders or directors. Shareholder’s amounts represent advances or amounts paid on behalf of the Company in satisfaction of liabilities. The advances were considered temporary in nature and were not formalized by a promissory note.

During the three months ended June 30, 2024, and 2023, the Company’s prior shareholder and sole director and officer advanced to the Company an amount of $0 and $1,185, respectively by paying for expenses on behalf of the Company.

During the three months ended June 30, 2024, and 2023, the Company’s current shareholders advanced to the Company an amount of $19,846 and $0, respectively by paying for expenses on behalf of the Company.

During the nine months ended June 30, 2024, and 2023, the Company’s prior shareholder and sole director and officer advanced to the Company an amount of $69,720 and $36,037, respectively by paying for expenses on behalf of the Company.

During the nine months ended June 30, 2024, and 2023, the Company’s current shareholders advanced to the Company an amount of $21,463 and $0, respectively by paying for expenses on behalf of the Company.

As of June 30, 2024, the Company was obligated to the current shareholders for a total balance of $273,676 (including assigned balance of $252,213 from prior shareholder), which is unsecured, non-interest-bearing and due on demand. Kaichen Zheng, the current major shareholder and sole director, and Shitong Li, the current major shareholder and sole officer, each have a balance of $136,838 as of June 30, 2024.

As of September 30, 2023, the Company was obligated to the prior shareholder and sole director and officer for a balance of $182,493, which is unsecured, non-interest-bearing and due on demand.

- 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
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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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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-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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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
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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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

BALLY, CORP. 10-Q