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Convertible Debt
12 Months Ended
Jul. 31, 2020
Debt Disclosure [Abstract]  
Convertible Debt

On August 22, 2013 the Company entered into a $50,000 Convertible Loan Agreement with an un-related party. The Loan and interest are convertible into Units at $0.08 per Unit with each Unit consisting of one common share of the Company and ½ warrant with each full warrant exercisable for one year to purchase one common share at $0.30 per share. On July 10, 2014, a further $35,000 was received from the same unrelated party under the same terms. On July 31, 2018, this Note was amended whereby the principal and interest are now convertible into Units at $0.04 per Unit with each Unit consisting of one common share of the Company and ½ warrant with each full warrant exercisable for one year to purchase one common share at $0.08 per share. The Loan shall bear interest at the rate of Eight Percent (8%) per annum and matures on March 26, 2020. As of July 31, 2020, there is $85,000 and $58,038 of principal and accrued interest, respectively, due on this loan. As of July 31, 2019, there was $85,000 and $43,182 of principal and accrued interest, respectively, due on this loan. This note is currently in default.

 

On October 20, 2017, the Company executed a convertible promissory note for $25,000 with a third party. The note accrues interest at 6%, matures in two years and is convertible into shares of common stock at maturity, at a minimum of $0.10 per share, at the option of the holder. As of July 31, 2020 and 2019, there is $4,527 and $2,367, respectively, of accrued interest due on this loan. This note is currently in default.