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Common Stock
9 Months Ended
Feb. 29, 2020
Equity [Abstract]  
Common Stock [Text Block]

4. Common Stock

On January 14, 2020, the Company amended the Company's Articles of Incorporation to increase the authorized number of shares of the Company's common stock from 500,000,000 shares of common stock to 2,000,000,000 shares of common stock.

Stock transactions during the nine months ended February 29, 2020:

a) On August 23, 2019, the Company issued 16,200,000 shares of common stock pursuant to a private placement for cash proceeds of $60,862 (Cdn$81,000) received during the year ended May 31, 2019.

b) On August 23, 2019, the Company issued 5,000,000 shares of common stock pursuant to a private placement for cash proceeds of $12,349 (Cdn$16,500).

c) On August 23, 2019, the Company issued 1,500,000 shares of common stock with a fair value of $3,000 to settle accounts payable of $4,887 (Cdn$6,500), resulting in a gain on settlement of $1,887.

d) On February 3, 2020, the Company issued 8,100,000 shares of common stock with a fair value of $24,300 to settle accounts payable of $18,225, resulting in a loss of $6,075.

 

e) On February 13, 2020, the Company issued 33,666,666 shares of common stock with a fair value of $101,000 to settle accounts payable of $76,173, resulting in a loss on settlement of $24,827.

 

f) On February 13, 2020, the Company issued 20,000,000 shares of common stock with a fair value of $60,000 to settle related party accounts payable of $45,251, resulting in a loss on settlement of $14,749.

 

g) During the nine months ended February 29, 2020, the Company received cash proceeds of $89,750 for the issuance of 39,888,889 common shares. At February 29, 2020, the Company had also incurred share issuance costs of $20,488 which were offset against the proceeds received. As of the date of these financial statements the shares had yet to be issued.

Stock transactions during the nine months ended February 28, 2019:

a) On October 15, 2018, the Company issued 6,850,000 shares of common stock with a fair value of $27,400 to settle accounts payable of $26,414, resulting in a loss of $986.

b) On October 15, 2018, the Company issued 14,600,000 shares of common stock with a fair value of $58,400 to settle related party accounts payable of $56,300, resulting in a loss on settlement of $2,100.

c) On October 15, 2018, the Company issued 23,800,000 shares of common stock pursuant to a private placement at Cdn$0.005 per share for proceeds pf $92,325 (Cdn$119,000). Proceeds of $66,328 (Cdn$85,000) were received during the year ended May 31, 2018.

dDuring the nine months ended February 28, 2019, the Company received cash proceeds of $46,032 (Cdn$61,000) relating to share subscriptions. The shares were unissued at February 28, 2019 and the amounts received for these shares have been reflected in stock subscriptions received in the balance sheet.

At February 29, 2020 and February 28, 2019, the Company had no dilutive shares, or common stock equivalents.