RELATED PARTY TRANSACTIONS
|12 Months Ended|
Sep. 30, 2021
|RELATED PARTY TRANSACTIONS|
|RELATED PARTY TRANSACTIONS||
NOTE 9 – RELATED PARTY TRANSACTIONS
Net amounts due to related parties consisted of the following as of September 30, 2021 and 2020:
This represented unsecured and interest free borrowings between the Company and Huang Jiancong and other related parties to the Company. For the years end September 30, 2021 and 2020, the Company had outstanding loans with total amount of $974,216 and $1,187,339 from its shareholder, HUANG Jian Cong. As of September 30, 2020 the Company had outstanding amount due from one related party with an amount of $47,135, which was fully collected during fiscal year 2021.
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.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef