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Common Stock
12 Months Ended
Jul. 31, 2018
Equity [Abstract]  
COMMON STOCK

NOTE 7 - COMMON STOCK

 

On August 5, 2016, the Company issued 670,000 shares of common stock at $0.025 per share as a portion of the consideration to acquire an oil and gas lease known as the Guy Ranch (Note 4).

 

On January 24, 2017, the Company sold 300,000 shares of common stock along with warrants to purchase an additional 150,000 shares for total proceeds of $5,000. The warrants are exercisable at $0.10 and expire February 1, 2019.

 

During the year ended July 31, 2018, the Company sold 16,559,000 shares of common stock for total cash proceeds of $219,475; $20,000 of which had not yet been received as of July 31, 2018. In addition, 1,000,000 shares of those sold were not issued as of July 31, 2018 and have therefore been credited to common stock to be issued.

 

During the year ended July 31, 2018, the Company sold 2,730,000 Units of its common stock for total cash proceeds of $136,500. Each Unit consists of one common share and one-half share purchase warrant exercisable for 1 years. Each whole share purchase warrant has an exercise price of $0.15 per common share.

 

During the year ended July 31, 2018, the Company issued 200,000 shares of common stock for conversion of a $4,000 loan payable. The shares were valued at $0.05, the closing stock price on the date of conversion for a loss on conversion of $6,000.

 

During the year ended July 31, 2018, the Company issued 3,000,000 shares of common stock for services. The shares were valued at $0.061, the closing stock price on the date of grant for total non-cash expense of $183.000.