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WARRANTS
 6 Months Ended
Jan. 31, 2022
WARRANTS  
WARRANTS

NOTE 9 – WARRANTS

 

The Company issued 1,911,330 warrants as part of a debt conversion in the prior year. The warrants were evaluated for purposes of classification between liability and equity. The warrants do not contain features that would require a liability classification and are therefore considered equity. The Black Scholes pricing model was used to estimate the fair value of $72,631 of the Warrants with the following inputs: stock price of $0.04, exercise price of $0.08, 2-year term, volatility of 313%, and a risk free rate of 0.19.

 

 

 

Number of Warrants

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Contract Term

 

Exercisable at July 31, 2020

 

 

500,000

 

 

 

0.15

 

 

 

.27

 

Granted

 

 

1,911,330

 

 

 

0.08

 

 

 

2

 

Expired

 

 

(500,000)

 

 

0.15

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

—

 

Exercisable at July 31, 2021

 

 

1,911,330

 

 

$0.08

 

 

 

2

 

Granted

 

 

—

 

 

 

—

 

 

 

—

 

Expired

 

 

—

 

 

 

—

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

—

 

Exercisable at January 31, 2022

 

 

1,911,330

 

 

$0.08

 

 

 

1.75