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DUE TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS

12 Months Ended

Jul. 31, 2018

NOTE 9:

DUE TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS

During Fiscal 2018, we incurred $148,081 (Fiscal 2017: $174,299; and Fiscal 2016: $164,566) in general and administrative costs paid to Blender Media Inc. (“Blender”), a company controlled by Arash Adnani, the brother of our President and Chief Executive Officer, for various services including information technology, corporate branding, media, website design, maintenance and hosting, provided to our Company.

During Fiscal 2018, we issued 104,706 shares with a fair value of $141,678 as settlement of the equivalent amounts owed to Blender. As a result, no gain or loss on settlement of liabilities was recognized on the consolidated statements of operation and comprehensive loss.

During Fiscal 2017, we issued 148,368 shares with a fair value of $170,060 as settlement of the equivalent amounts owed to Blender. As a result, no gain or loss on settlement of liabilities was recognized on the consolidated statements of operation and comprehensive loss.

At July 31, 2018, amounts owed to Blender totaled $807 (July 31, 2017: $768). These amounts are unsecured, non-interest bearing and due on demand.