Breakthrough Chemistry Inc (BKTH)

[JPS02]

NOTE 6 – DUE TO SHAREHODLER

As at June 30, 2020, 1863942 Ontario Corporation, an entity controlled by a shareholder of the Company who is also the officer and director of our former subsidiary, Megola Canada, was owed a total of $205,184, ($205,184 – June 30, 2019). This debt in the amount of $205,184 was agreed to be acquired by the Company upon the ratification of the divestiture of Megola Canada effective March 31, 2018. Prior to the appointment of a custodian in 2018, management had agreed to retire the debt payable to 1863942 Ontario Corporation by the issuance of certain shares, however, the shares were never issued. The amount is reflected on the balance sheets as “Due to Shareholder” and is non-interest bearing and due on demand.

Extract source - MGON June 30, 2020 Quarterly Report - Pages 4 and 5: https://backend.otcmarkets.com/otcapi/company/financial-report/255439/content

Go MGON!