XML 26 R10.htm IDEA: XBRL DOCUMENT v3.19.2
Common Stock
12 Months Ended
May 31, 2019
Common Stock [Text Block]

4. Common Stock

Stock transactions during the year ended May 31, 2019:

(a) During the year ended May 31, 2019,  the Company issued 21,450,000 shares of common stock with a fair value of $85,800 to settle accounts payable of $82,714, resulting in a loss on settlement of $3,086.

(b) During the year ended May 31, 2019, the Company issued 6,800,000 shares of common stock pursuant to a private placement at Cdn$0.005 per share for proceeds of $25,997 (Cdn$34,000).

(c) During the year ended May 31, 2019, the Company issued 17,0000,000 shares of common stock pursuant to a private placement at Cdn$0.005 per share for proceeds of Proceeds of $66,328 (Cdn$85,000) which were received during the year ended May 31, 2018.

(d) During the year ended May 31, 2019, the Company received cash proceeds of $60,862 (Cdn$81,000) relating to share subscriptions. The shares were unissued at May 31, 2019 and the amounts received for these shares have been reflected in stock subscriptions received in the balance sheet. On August 23, 2019, the Company issued the subscribers 16,200,000 shares of common stock as described in Note 9(a).

Stock transactions during the year ended May 31, 2018:

a) On February 14, 2018, the Company issued 31,700,000 shares of common stock with a fair value of $95,100 to settle accounts payable of $128,205, resulting in a gain on settlement of $33,105.

b) On February 14, 2018, the Company issued 4,000,000 shares of common stock with a fair value of $12,000 to settle related party accounts payable of $15,938 (Cdn$20,000), resulting in a gain on settlement of $3,938.

c) On February 14, 2018, the Company issued 5,000,000 shares of common stock pursuant to a private placement at $0.005 per share for proceeds of $25,000.

d) On February 14, 2018, the Company issued 33,200,000 shares of common stock pursuant to a private placement at Cdn$0.005 per share for proceeds of $130,833 (Cdn$166,000). Proceeds of $26,798 (Cdn$36,000) which were received during the year ended May 31, 2017.

At May 31, 2019 and 2018, the Company had no dilutive shares, or common stock equivalents.