Note 8 - Due to Related Parties and Related Party Transactions

12 Months Ended

Jul. 31, 2020

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE 8 : DUE TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS

During Fiscal

2020,

we incurred

$98,150

(Fiscal

2019:

$149,692

and Fiscal

2018:

$148,081

) in general and administrative expenses due to Blender Media Inc. (“Blender”), a company controlled by Arash Adnani, a direct family member 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.

At

July 31, 2020,

amounts owed to Blender totaled

$31,334

(

July 31, 2019:

$68,680

). These amounts are unsecured, non-interest bearing and due on demand.

During Fiscal

2019,

we closed the Royalty Purchase Agreement and received

12,000,000

Consideration Shares of URC. Refer to Note

6:

Equity-accounted Investment herein.