Form 10-K/A Amended Annual Report

0001078782-20-000957.txt : 20201208 0001078782-20-000957.hdr.sgml : 20201208 20201208150409 ACCESSION NUMBER: 0001078782-20-000957 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 72 CONFORMED PERIOD OF REPORT: 20200731 FILED AS OF DATE: 20201208 DATE AS OF CHANGE: 20201208 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HAMMER FIBER OPTICS HOLDINGS CORP CENTRAL INDEX KEY: 0001539680 STANDARD INDUSTRIAL CLASSIFICATION: COMMUNICATION SERVICES, NEC [4899] IRS NUMBER: 981032170 STATE OF INCORPORATION: NV FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-35876 FILM NUMBER: 201375169 BUSINESS ADDRESS: STREET 1: 15 CORPORATE PLACE SOUTH CITY: PISCATAWAY STATE: NJ ZIP: 08854 BUSINESS PHONE: 844-413-2600 MAIL ADDRESS: STREET 1: 15 CORPORATE PLACE SOUTH CITY: PISCATAWAY STATE: NJ ZIP: 08854 FORMER COMPANY: FORMER CONFORMED NAME: Tanaris Power Holdings Inc. DATE OF NAME CHANGE: 20150310 FORMER COMPANY: FORMER CONFORMED NAME: Recursos Montana S.A. DATE OF NAME CHANGE: 20120113 10-K/A 1 f10ka073120_10kz.htm FORM 10-K/A AMENDED ANNUAL REPORT Form 10-K/A Amended Annual Report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K/A

Amendment No. 1

[X] ANNUAL REPORT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended July 31, 2020

Commission file number 000-1539680

HAMMER FIBER OPTICS HOLDINGS CORP.

(Exact name of registrant as specified in its charter)

NEVADA		98-1032170
(State or Other Jurisdiction of Incorporation of Organization)		(I.R.S. Employer Identification No.)

401 East 34^th Street

Suite #N27J

New York, NY 10016

(Address of principal executive offices)

844-413-2600

(Registrant’s telephone number, including area code)

Securities registered under Section 12(b) of the Exchange Act: None

Securities registered under Section 12(g) of the Exchange Act: Common Stock

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [ ] No [X]

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

Yes [ ] No [X]

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definition of “large accelerated filer and “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large Accelerated Filer	[ ]	Accelerated Filer	[ ]
Non-Accelerated Filer	[ ]	Smaller Reporting Company	[X]	Emerging Growth Company	[ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes [ ] No [X]

The aggregate market value of the voting common stock held by non-affiliates of the registrant as of July 31, 2020, was $9,405,489 (based upon the $0.185 closing price for shares of the registrant’s common stock as reported by the OTCBB on July 31, 2020, the last trading day of the registrant’s most recently completed fourth fiscal quarter). As of July 31, 2020, there were 60,503,341 shares of the registrant’s $.001 par value common stock issued and 50,840,482 outstanding.

EXPLANATORY NOTE

The purpose of this Amendment No. 1 to the Annual Report of Hammer Fiber Optics, Inc. (the “Company”) on Form 10-K for the period ended July 31, 2020, filed with the Securities and Exchange Commission on November 13, 2020 (the “Form 10-K”), is to furnish Exhibit 101 to the Form 10-K in accordance with Rule 405 of Regulation S-T. Exhibit 101 to this report provides the consolidated financial statements and related notes from the Form 10-K formatted in XBRL (eXtensible Business Reporting Language).

Other than the aforementioned, no other changes have been made to the Form 10-K. This Amendment No. 1 to the Form 10-K speaks as of the original filing date of the Form 10-K, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the original Form 10-K.

Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

PART IV ITEM 15 - EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

(a) Financial Statements

1.Financial statements for our company are listed in the index under Item 8 of this document

2.All financial statement schedules are omitted because they are not applicable, not material or the required information is shown in the financial statements or notes thereto.

Exhibit
Number	Description of Exhibit	Filing
31.1	Sec. 302 Certification of Chief Executive Officer	Filed herewith
31.2	Sec. 302 Certification of Principal Financial Officer	Filed herewith
32.1	Sec. 906 Certification of Chief Executive Officer	Filed herewith
32.2	Sec. 906 Certification of Principal Financial Officer	Filed herewith

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this Annual Report on Form 10-K to be signed on its behalf by the undersigned, thereunto duly authorized.

HAMMER FIBER OPTICS HOLDINGS CORP.

Date: December 8, 2020		/s/ Erik B. Levitt
		Erik B. Levitt
		Principal Executive Officer

Date: December 8, 2020		/s/ Erik Levitt
		Erik B. Levitt
		Principal Financial Officer

EX-31.1 2 f10ka073120_ex31z1.htm EXHIBIT 31.1 SECTION 302 CERTIFICATION Exhibit 31.1 Section 302 Certification

HAMMER FIBER OPTICS HOLDINGS CORP.

Certification of the Chief Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15d-

I, Erik B. Levitt, certify that:

1. I have reviewed this Annual Report on Form 10-K/A, of Hammer Fiber Optics Holdings Corp.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. As the registrant’s Principal Executive Officer, I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and I have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: December 8, 2020		/s/ Erik B. Levitt
		Erik B. Levitt
		Principal Executive Officer

EX-31.2 3 f10ka073120_ex31z2.htm EXHIBIT 31.2 SECTION 302 CERTIFICATION Exhibit 31.2 Section 302 Certification

HAMMER FIBER OPTICS HOLDINGS CORP.

Certification of the Chief Financial Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15d-

I, Erik B. Levitt, certify that:

1. I have reviewed this Annual Report on Form 10-K/A, of Hammer Fiber Optics Holdings Corp.;

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: December 8, 2020		/s/ Erik B. Levitt
		Erik B. Levitt
		Principal Financial Officer

EX-32.1 4 f10ka073120_ex32z1.htm EXHIBIT 32.1 SECTION 906 CERTIFICATION Exhibit 32.1 Section 906 Certification

HAMMER FIBER OPTICS HOLDINGS CORP.

Certification of the Chief Executive Officer Pursuant to

18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the accompanying Annual Report on Form 10-K/A of Hammer Fiber Optics Holdings Corp. (the “Company”) for the year ended July 31, 2020 (the “Report”), I, Erik B. Levitt, President and Principal Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: December 8, 2020		/s/ Erik B. Levitt
		Erik B. Levitt
		Principal Executive Officer

EX-32.2 5 f10ka073120_ex32z2.htm EXHIBIT 32.2 SECTION 906 CERTIFICATION Exhibit 32.2 Section 906 Certification

HAMMER FIBER OPTICS HOLDINGS CORP.

Certification of the Chief Financial Officer Pursuant to

18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the accompanying Annual Report on Form 10-K/A of Hammer Fiber Optics Holdings Corp. (the “Company”) for the year ended July 31, 2020 (the “Report”), I, Erik B. Levitt, President and Principal Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: December 8, 2020		/s/ Erik B. Levitt
		Erik B. Levitt
		Principal Financial Officer

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NOTE 1  ORGANIZATION AND DESCRIPTION BUSINESS Hammer Fiber Optics Holdings Corp (OTCQB:HMMR) is a telecommunications company investing in the future of wireless technology. Hammers Everything Wireless go to market strategy includes the develop of high speed fixed wireless service for residential, small business and enterprise clients using its wireless fiber platform, Hammer Wireless AIR®, mobility networks including 4G/LTE, Over-the-Top services such as voice, SMS and collaboration services and hosting services including cloud and colocation.

NOTE 2  CORPORATE HISTORY AND BACKGROUND ON MERGER The Company was originally incorporated in the State of Nevada on September 23, 2010, under the name Recursos Montana S.A. The Companys principal activity was an exploration stage company engaged in the acquisition of mineral properties then owned by the Company. On February 2, 2015, the Company entered into a Share Exchange Agreement with Tanaris Power Holdings, Inc., whereby the Company acquired 100% of Tanaris Power Holdings, Inc. issued and outstanding common stock in exchange for shares of the Companys common stock equal to 51% of the issued and outstanding common stock of the Company. Tanaris Power Holdings, Inc. was the owner of certain rights in connection with the marketing and sale of smart lithium-ion batteries and battery technologies for various industrial vehicles markets and related applications. On March 6, 2015, the Company amended its Articles of Incorporation to change its name to Tanaris Power Holdings, Inc. On April 25, 2016, Tanaris Power Holdings, Inc., a Nevada corporation entered into s Share Exchange Agreement (the Share Exchange Agreement) with Hammer Fiber Optics Investments, Ltd., a Delaware corporation (HFOI), and the controlling stockholders of HFOI (the HFOI Shareholders). Pursuant to the Share Exchange Agreement, the Company acquired 20,000,000 shares of common stock of HFOI from the HFOI shareholders (the HFOI Shares) and in exchange, the Company issued to the HFOI Shareholders 50,000,000 (post-Merger) restricted shares of its common stock (the HMMR Shares). As a result of the Share Exchange Agreement, HFOI became a wholly owned subsidiary of the Company. On April 13, 2016, the Board of Directors (BOD) approved a Plan of Merger (the Plan of Merger) under Nevada Revised Statuses (NRS) Section 92A.180 to merge (the Merger) with our wholly-owned subsidiary HFO Holdings, a Nevada corporation, to effect a name change from Tanaris Power Holdings Inc. to Hammer Fiber Optics Holdings Corp. The Plan of Merger also provided for a 1 for 1,000 exchange ratio for shareholders of both the Company and the HRO Holdings, which had the effect of a 1 for 1,000 reverse split of the common stock. Articles of Merger were filed with the Secretary of State of Nevada on April 13, 2016 and, on April 14, 2016, this corporate action was submitted to Financial Industry Regulatory Authority (the FINRA) for its review and approval. On May 3, 2016, the FINRA approved the merger with the wholly-owned subsidiary, HMMR Fiber Optics Holdings Corp. (HFO Holdings). Accordingly, thereafter, the Companys name was changed and the shares of common stock began trading under new ticker symbol HMMR as of May 27, 2016. The merger was effected on July 19, 2016. On September 11, 2018, our board of directors approved stock purchase agreements with 1stPoint Communications LLC and its subsidiaries, Endstream Communications LLC, Open Data Centers LLC and Shelcomm Inc. for the acquisition of all of the equity of the entities. 1stPoint and its subsidiaries possess CLEC licenses in Florida, New York State, and a nationwide CMRS (Commercial Mobile Radio Services) license. The companies operate a data center facility in Piscataway, New Jersey. The acquisition of 1stPoint Communications, LLC, Open Data Centers, LLC and Shelcomm, Inc. closed on November 1, 2018. The acquisition of Endstream Communications, LLC closed on December 17, 2018. On January 29, 2019 our board of directors approved a stock purchase agreement with American Network, Inc to acquire all of its equity. The acquisition of American Network, Inc closed on September 1, 2019. As of April 30, 2020 our board of directors approved the discontinuation of the operations of Open Data Centers LLC. The operations of Open Data Centers, LLC were discontinued effective April 30, 2020 and the Company shut down its operations in its Piscataway, NJ data center.

NV 2010-09-23

Basis of presentation The accompanying consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP).

Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

COVID-19 Pandemic Update In March 2020, the World Health Organization declared a global health pandemic related to the outbreak of a novel coronavirus. The COVID-19 pandemic adversely affected the company's financial performance in the third and fourth quarters of fiscal year 2020 and could have an impact throughout fiscal year 2021. In response to the COVID-19 pandemic, government health officials have recommended and mandated precautions to mitigate the spread of the virus, including shelter-in-place orders, prohibitions on public gatherings and other similar measures. As a result, the company and certain of the company's customers and suppliers temporarily closed locations beginning late in the second quarter of fiscal year 2020, continuing into the third quarter of fiscal year 2020. Partly due to the COVID-19 pandemic, the Company shut down the operations of its Open Data Centers, LLC operations effective April 30, 2020. There is uncertainty around the duration and breadth of the COVID-19 pandemic, as well as the impact it will have on the company's operations, supply chain and demand for its products. As a result, the ultimate impact on the company's business, financial condition or operating results cannot be reasonably estimated at this time. On May 5, 2020, the Companys 1stPoint Communications LLC subsidiary entered into a $88,097 note payable to Bank of America, pursuant to the Paycheck Protection Program (PPP Loan) under the CARES Act. The loan remains outstanding at July 31, 2020.

Cash and cash equivalents Cash and cash equivalents include cash in banks, money market funds, and certificates of term deposits with maturities of less than three months from inception, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value.

Property and equipment Property and equipment is stated at cost less accumulated depreciation. Depreciation is provided for on a straight-line basis over the useful lives of the assets. For network service equipment, and furniture and fixtures, the useful life is ten and five years, respectively. Leasehold Improvements are depreciated over six years. Expenditures for additions and improvements are capitalized; repairs and maintenance are expensed as incurred.

Impairment of long-lived assets The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to future undiscounted cash flows to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. The Company has not recognized impairment losses for any long-lived assets.

Notes Receivable These assets are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Subsequent to initial recognition, they are recorded at amortized cost less any provision for impairment. Individually significant receivables are considered for impairment when they are past due or when other objective evidence is received that a specific counterparty is more likely than not to default.

Indefinite lived intangible assets The Company reviews property, plant and equipment, inventory component prepayments and certain identifiable intangibles, excluding goodwill, for impairment. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of these assets is measured by comparison of their carrying amounts to future undiscounted cash flows the assets are expected to generate. If property, plant and equipment, inventory component prepayments and certain identifiable intangibles are considered to be impaired, the impairment to be recognized equals the amount by which the carrying value of the assets exceeds its fair value. The Company has not recorded any related impairment losses. The Company does not amortize goodwill and intangible assets with indefinite useful lives, rather such assets are required to be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that the assets may be impaired. The Company has not recorded any related impairment losses.

Revenue recognition The Company accounts for revenues under Accounting Standards Update (ASU) 2014-09, "Revenue from Contracts with Customers" (Topic 606), which we adopted on August 1, 2018, using the modified retrospective approach. This standard update, along with related subsequently issued updates, clarifies the principles for recognizing revenue and develops a common revenue standard for GAAP. . The Company performs the following five steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company applies the five-step model to arrangements that meet the definition of a contract under Topic 606, including when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of Topic 606, the Company evaluates the goods or services promised within each contract related performance obligation and assesses whether each promised good or service is distinct. The Company recognizes as revenue, the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Amounts invoiced or collected in advance of product delivery or providing services are recorded as unearned revenue or customer deposits. The company accrues for sales returns, bad debts, and other allowances based on its historical experience. The Companys revenues have consisted primarily of subscription agreements for its broadband internet and voice-over-IP phone services. Residential broadband service delivered to customers over the Companys hybrid fiber and wireless network in Atlantic County, New Jersey has been the primary revenue source. Revenues are supplemented by phone and add-on services. Broadband services delivered via fiber optics to enterprise businesses account for the remaining sources of revenue. Services have been billed monthly to subscribers on either a one- year or two-year contract for residential customers and three-year contracts for enterprise business customers. Revenue begins accruing as service is delivered at commencement of the customers service contract.

Income taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Accounting for Income Taxes. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

Fair value measurements The Company adopted the provisions of ASC Topic 820, Fair Value Measurements and Disclosures, which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. The estimated fair value of certain financial instruments, including cash and cash equivalents are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1  quoted prices in active markets for identical assets or liabilities Level 2  quoted prices for similar assets and liabilities in active markets or inputs that are observable  Level 3  inputs that are unobservable (for example cash flow modeling inputs based on assumptions) The Company has no assets or liabilities valued at fair value on a recurring basis.

Consolidation of financial statements Hammer Fiber Optics Holdings Corp. is the parent company and sole shareholder of Hammer Wireless Corporation, Hammer Fiber Optic Investments Ltd, 1stPoint Communications,LLC, Endstream Communications, LLC, Shelcomm, Inc., Open Data Centers, LLC, and American Network, Inc. The company is also the beneficial owner of Hammer Wireless SL. The financial statements for Hammer Fiber Optics Holdings Corp. and its subsidiaries are reported on a consolidated basis. All significant intercompany accounts and transactions have been eliminated. Hammer Fiber Optics Investments, Ltd and Open Data Centers, LLC have been discontinued and are reported on a summarized basis in consolidation.

Basic and Diluted Earnings (Loss) per Common Share The basic earnings (loss) per share are calculated by dividing the Companys net income available to common shareholders by the weighted average number of common shares during the year. The diluted earnings (loss) per share is calculated by dividing the Companys net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company. As of July 31, 2020 and 2019, there were no common stock equivalents outstanding.

Recent accounting pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. ASU 2014-09 is a comprehensive revenue recognition standard that will supersede nearly all existing revenue recognition guidance under current U.S. GAAP and replace it with a principle-based approach for determining revenue recognition. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract. The ASU also will require additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In addition, during 2016 the FASB has issued ASU 2016-08, ASU 2016-10 and ASU 2016-12, all of which clarify certain implementation guidance within ASU 2014-09, and ASU 2016-11, which rescinds certain SEC guidance effective upon an entitys adoption of ASU 2014-09. ASU 2014-09 is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted only in annual reporting periods beginning after December 15, 2016, including interim periods therein. The Company adopted ASU No. 2014-09 and related updates on August 1, 2018. Adoption did not have a material impact on the Companys consolidated financial statements. In February 2016, FASB issued ASU No. 2016-02, Accounting Standards Update No. 2016-02, Leases (Topic 842). ASU 2016-02 provides for improvements for accounting guidance related to leasing treatments on financial statements as a response to user input. The update maintains two classifications of leases, Financial lease and Operating leases. The Update is effective for fiscal years beginning after December 15, 2018. The Company is assessing the impact this standard will have on its consolidated financial statements. The Company does not expect the adoption of any other recent accounting pronouncements to have a material impact on its financial statements.

Reclassifications Certain reclassifications have been made to the financial statements to conform to the consolidated 2020 financial statement presentation.

Accounts Receivable Accounts receivable are recorded at invoiced amount and generally do not bear interest. An allowance for doubtful accounts is established, as necessary, based on past experience and other factors which, in management's judgment, deserve current recognition in estimating bad debts. Such factors include growth and composition of accounts receivable, the relationship of the allowance for doubtful accounts to accounts receivable and current economic conditions. The determination of the collectability of amounts due from customer accounts requires the Company to make judgments regarding future events and trends. Allowances for doubtful accounts are determined based on assessing the Companys portfolio on an individual customer and on an overall basis. This process consists of a review of historical collection experience, current aging status of the customer accounts, and the financial condition of the Companys customers.

NOTE 4  GOING CONCERN The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has consistently sustained losses since its inception. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern for a period of one year from the issuance of these financial statements. The Companys continuation as a going concern is dependent upon, among other things, its ability to increase revenues, adequately control operating expenses and receive debt and/or equity capital from third parties. No assurance can be given that the Company will be successful in these efforts. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company intends to continue to address this condition by seeking to raise additional capital through the issuance of debt and/or the sale of equity until such time that ongoing revenues can sustain the business, at which time capitalization may be considered through other means.

NOTE 6  ACQUISITIONS On September 1, 2019, the Company completed the previously announced purchase of the assets of American Network, Inc.. The purchase price for the acquisition was 500,000 shares of the Companys Common Stock from treasury stock. The purchase price of $230,000 is allocated to intangible assets, which includes vendor contracts, CLEC agreements and telephone number assets.

2019-09-01

American Network, Inc.

500,000 shares of the Companys Common Stock

NOTE 8  INDEFINITE LIVED INTANGIBLE ASSETS The Company has $18,934 of recognized indefinite lived intangible assets, which consist of the ownership of Internet Protocol version 4 (IPv4) address blocks. The Hammer Wireless SL, Ltd. Subsidiary has been granted a nationwide telecommunications and wireless license in the country of Sierra Leone, for which it paid $218,584. Hammer paid $42,500 to Wikibuli, Inc. in exchange for capital stock in Wikibuli, the operating company in Dominica. These assets are not amortized and are evaluated routinely for potential impairment. If a determination is made that the intangible asset is impaired after performing the initial qualitative assessment, the assets fair value will be calculated and compared with the carrying value to determine whether an impairment loss should be recognized.

18934

NOTE 9  RELATED PARTY TRANSACTIONS On October 9, 2016, the Company entered into a short-term loan agreement with a family member of a member of the Companys Board of Directors (BOD). Under the agreement, the lender advanced $100,000 to the Company for the purpose of providing working capital. The loan carries an annual interest rate of 3%. The Company is currently in default on this loan. On September 15, 2016, the Company received $210,000 from a family member of a member of the BOD, also for the purpose of working capital, and has recorded such amount as a deposit in anticipation of executing a loan agreement.  On April, 9 2018, the Company received an additional $20,000 deposit from a family member of a member of the BOD. The amount was intended as additional working capital. The Company anticipates execution of a loan agreement relative to this advance. During the fiscal year ended July 31, 2016, the Company entered into two promissory notes with a Director for an aggregate amount of $2,400,000 and $1,000,000, respectively. The $2,400,000 note matures on January 4, 2019. The terms consist of ten principal and interest payments due quarterly in the amount of $300,000 for total payments of $3,000,000. The Company is currently in default on this loan. To date, the Company has made payments on this note amounting to $725,831. The payments were applied to interest accrued as of the time of payment as well as to principal. The principal balance was $2,294,067 at July 31, 2018 and 2017. The interest accrued was $219,434 at July 31, 2018 and $69,594 at July 31, 2017, respectively.  The $1,000,000 note matured on June 9, 2018 at which time the principal became due in its entirety, in addition to simple interest accrued at 3%. The company is currently in default on this loan. On February 12, 2018, the Company entered into a convertible promissory note for the sum of $103,000. On June 19, 2018, the note was settled in full on the companys behalf by a Director. The settlement included a prepayment penalty for a full settlement amount of $132,433. The difference between the carrying value of the loan and the full settlement amount ($29,433) was recorded as interest expense. During the fiscal year 2018, the Company entered into a Stock Purchase Agreement with a related party for the sum of $14,000 of common stock at $0.4629 per share on May 5, 2019, and the sum of $12,000 of common stock at $0.405 per share on May 30, 2019. During the fiscal year 2019, the Company entered into a Stock Purchase Agreement with a related party for the sum of $25,000 of common stock at $0.25 per share on March 17, 2020, the sum of $40,000 of common stock at $0.24 per share on March 24, 2020. On April 6, 2020, the Company entered into a promissory note for the sum of $36,300 with a related party. The note bears interest at a rate of 6%, payable quarterly. As of July 31, 2020, all of the related party payables are reported as current liabilities in the Consolidated Balance Sheet.

2016-10-09

Company entered into a short-term loan agreement with a family member of a member of the Companys Board of Directors (BOD)

100000

0.0300

210000

Company entered into two promissory notes with a Director

2400000

1000000

The terms consist of ten principal and interest payments due quarterly

NOTE 10  CONVERTIBLE DEBT On February 12, 2018, the Company entered into an agreement for a convertible promissory note for the sum of $103,000. The note accrues interest at a rate of 12% per annum due at maturity. The note matures nine months from the issuance date. Prepayment of the note is subject to a premium charge based on the amount of days prepaid before the maturity date. The note allows conversion into the Companys common stock at a discount of 37 percent of the stocks market price. The holder shall have the right after 180 days to convert all or part of the note at their discretion. On June 19, 2018 the note was settled in full on the companys behalf by a Director.

2018-02-12

Company

convertible promissory note

103000

0.1200

Prepayment of the note is subject to a premium charge based on the amount of days prepaid before the maturity date

The note allows conversion into the Companys common stock at a discount of 37 percent of the stocks market price

NOTE 13  COMMITMENTS AND LEASES In discontinuing Open Data Centers, LLC and Hammer Fiber Optics Investments, Ltd. the company no longer has any material long term leases or obligations.

NOTE 14  FOREIGN CURRENCY We transact business in various foreign currencies including the Euro and the Leone. In general, the functional currency of a foreign operation is the local countrys currency. Consequently, revenues and expenses of operations outside the United States are translated into USD Dollars using the weighted-average exchange rates on the period end date and assets and liabilities of operations outside the United States are translated into US Dollars using the change rate on the balance sheet dates. The effects of foreign currency translation adjustments are not material to the Companys accompanying financial statements.

NOTE 15  S-1 REGISTRATION STATEMENT On October 8, 2019, the Company completed an Equity Purchase Agreement with Peak One Opportunity Fund (Peak One) and Peak One Investments, LLC (Peak One Investments) giving the Company the option to sell up to $10,000,000 worth of our common stock to Peak One (the Maximum Commitment Amount), in increments, over the period ending twenty-four (24) months after the date the Registration Statement is deemed effective by the SEC (the Commitment Period). Additionally, the Company is required to issue Commitment Fees of 175,000 Shares each to Peak One and Peak One Investments. The Company also has an October 8, 2019 Registration Rights Agreement with Peak One requiring us to file an S-1 Registration Statement providing for the registration of 13,350,000 Shares that result from our selling to Peak One an indeterminate number of shares up to an aggregate purchase price of $10,000,000 and the subsequent resale by Peak One of such shares.This S-1 was effective on February 1, 2020.

NOTE 16  SUBSEQUENT EVENTS None.

Document and Entity Information - USD ($)		12 Months Ended
Document and Entity Information - USD ($)	Jul. 31, 2020	Jul. 31, 2020	Jan. 31, 2020	Jul. 31, 2019
Details
Registrant CIK		0001539680
Fiscal Year End		--07-31
Document Type		10-K/A
Document Period End Date		Jul. 31, 2020
Entity File Number		000-1539680
Entity Registrant Name		HAMMER FIBER OPTICS HOLDINGS CORP.
Entity Incorporation, State or Country Code		NV
Entity Tax Identification Number		98-1032170
Entity Address, Address Line One		401 East 34th Street, Suite #N27J
Entity Address, City or Town		New York
Entity Address, State or Province		NY
Entity Address, Postal Zip Code		10016
Entity Address, Address Description		Address of principal executive offices
City Area Code		844
Local Phone Number		413-2600
Phone Fax Number Description		Registrant’s telephone number, including area code
Entity Well-known Seasoned Issuer		No
Entity Voluntary Filers		No
Entity Current Reporting Status		Yes
Entity Interactive Data Current		Yes
Entity Filer Category		Non-accelerated Filer
Entity Small Business		true
Entity Emerging Growth Company		false
Entity Shell Company		false
Entity Public Float			$ 9,405,489
Share Price			$ 0.185
Common Stock, Shares, Issued	60,503,341	60,503,341		60,503,341
Entity Listing, Par Value Per Share	$ 0.001
Entity Common Stock, Shares Outstanding	50,840,482	50,840,482
Amendment Flag		false
Document Fiscal Year Focus		2020
Document Fiscal Period Focus		FY
Document Annual Report		true
Document Transition Report		false

XML 13 R2.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets - USD ($)	Jul. 31, 2020	Jul. 31, 2019
Assets, Current
Cash and cash equivalents	$ 73,931	$ 87,767
Accounts receivable	431,350	485,464
Security Deposits	10,446	2,675
Prepaid expenses	48,797	80,362
Assets, Current	564,524	656,268
Assets	5,143,251	5,482,667
Property, Plant and Equipment, Net	140,758	136,493
Intangible Assets, Current	3,156,656	2,196,765
Assets from Discontinued Operations	1,281,313	2,493,141
Liabilities, Current
Accounts payable and accrued expenses	1,206,664	929,620
Loans payable	448,302	204,511
Deferred Revenue	289,385	227,809
Liabilities, Current	1,944,351	1,361,940
Liabilities from Discontinued Operations	8,538,423	8,846,399
Liabilities	10,482,774	10,208,339
Stockholders' Equity Attributable to Parent
Common Stock, Value, Issued	60,503	60,503
Additional Paid in Capital	17,512,284	17,201,784
Retained Earnings (Accumulated Deficit)	(22,912,310)	(21,987,959)
Stockholders' Equity Attributable to Parent	(5,339,523)	(4,725,672)
Liabilities and Equity	$ 5,143,251	$ 5,482,667

XML 14 R3.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets - Parenthetical - $ / shares	Jul. 31, 2020	Jul. 31, 2019
Details
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	250,000,000	250,000,000
Common Stock, Shares, Issued	60,503,341	60,503,341
Common Stock, Shares, Outstanding	45,944,954	45,094,954

XML 15 R4.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Jul. 31, 2020	Jul. 31, 2019
Details
Revenues	$ 1,781,139	$ 2,179,152
Cost of sales	1,156,996	1,419,185
Selling, general and administrative expenses	857,354	866,658
Depreciation expense	44,454	30,768
Total operating expenses	2,058,804	2,316,611
Operating Income (Loss)	(277,665)	(137,459)
Other expenses
Interest expense	31,843	21,593
Other expenses	771	32,206
Total other expenses	32,614	53,799
Loss Before Discontinued Operations	(310,279)	(191,258)
Loss From Discontinued Operations	(614,072)	(7,605,259)
Net loss	$ (924,351)	$ (7,796,517)
Weighted Average Number of Shares Outstanding, Basic and Diluted	60,503,341	60,503,341
Loss per share- basic and diluted
Continuing operations	$ 0	$ 0
Discontinued operations	(0.02)	(0.13)
Total	$ (0.02)	$ (0.13)

XML 16 R5.htm IDEA: XBRL DOCUMENT

Consolidated Statement of Stockholders' Equity (Deficit) - USD ($)	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Total
Equity Balance, Starting at Jul. 31, 2018	$ 60,503	$ 0	$ 14,617,719	$ (14,191,442)	$ 486,780
Shares Outstanding, Starting at Jul. 31, 2018	60,503,341	7,557,179
Stock Issued During Period, Value, New Issues	$ 0	$ 0	26,000	0	26,000
Stock Issued During Period, Shares, New Issues	0	(59,874)
Stock Issued During Period, Value, Conversion of Convertible Securities, Net of Adjustments	$ 0	$ 0	153,194	0	153,194
Stock Issued During Period, Shares, Conversion of Convertible Securities	0	(245,112)
Stock Issued During Period, Value, Acquisitions	$ 0	$ 0	2,403,571	0	2,403,571
Stock Issued During Period, Shares, Acquisitions	0	(4,843,806)
Repurchase of shares from related parties, value	$ 0	$ 0	1,300	0	1,300
Repurchase of shares from related parties, shares	0	13,000,000
Net Income (Loss)	$ 0	$ 0	0	(7,796,517)	(7,796,517)
Shares Outstanding, Ending at Jul. 31, 2019	60,503,341	15,408,387
Equity Balance, Ending at Jul. 31, 2019	$ 60,503	$ 0	17,201,784	(21,987,959)	(4,725,672)
Stock Issued During Period, Value, Acquisitions	$ 0	$ 0	230,000	0	230,000
Stock Issued During Period, Shares, Acquisitions	0	(500,000)
Commitment shares issued in registration statement, Value	$ 0	$ 0	80,500	0	80,500
Commitment shares issued in registration statement, Shares	0	(350,000)
Net Income (Loss)	$ 0	$ 0	0	(923,351)	(923,351)
Shares Outstanding, Ending at Jul. 31, 2020	60,503,341	14,558,387
Equity Balance, Ending at Jul. 31, 2020	$ 60,503	$ 0	$ 17,512,284	$ (22,912,310)	$ (5,339,523)

XML 17 R6.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jul. 31, 2020	Jul. 31, 2019
Cash flows from operating activities:
Net Income (Loss) except discontinued operations	$ (924,351)	$ (7,796,517)
Loss from discontinued operations	614,072	7,605,259
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities
Depreciation expense	44,454	30,768
Changes in operating assets and liabilities:
Accounts receivable	54,114	578,834
Security deposits	(7,771)	25,206
Prepaid expenses	31,565	(58,392)
Accounts payable	277,044	(17,257)
Deferred revenue	61,576	34,951
Net cash provided by (used in) operating activities- continuing operations	150,703	402,852
Net cash provided by (used in) operating activities- discontinued operations	0	(838,148)
Net cash used in operating activities	150,703	(435,296)
Cash flows from investing activities:
Acquisition of property and equipment	(52,022)	(95,750)
Acquisition of property and equipment	0	(224,088)
Acquisition of property and equipment	(55,476)	0
Net cash provided by (used in) investing activities- continuing operations	(107,498)	(319,838)
Net cash provided by (used in) investing activities- discontinued operations	(356,568)	0
Net cash provided by (used in) investing activities	(464,066)	(319,838)
Cash flows from financing activities:
Repayment of loans	(43,923)	(478,184)
Proceeds from loans	343,450	616,444
Net cash provided by (used in) financing activities- continuing operations	299,527	138,260
Net cash provided by (used in) financing activities- discontinued operations	0	176,261
Net cash provided by financing activities	299,527	314,521
Net increase (decrease) in cash	(13,836)	(440,613)
Cash and cash equivalents	87,767	528,380
Cash and cash equivalents	73,931	87,767
Supplemental Cash Flow Information
Interest Paid, Including Capitalized Interest, Operating and Investing Activities	31,843	23,715
Income Taxes Paid, Net	$ 771	$ 568

NOTE 5 - DISCONTINUED OPERATIONS: Schedule of assets and liabilities of discontinued operations (Details) - USD ($)	Jul. 31, 2020	Jul. 31, 2019
Current Assets
Discontinued Operations - Cash	$ 677	$ 9,132
Discontinued Operations - Accounts receivable	36,676	193,943
Discontinued Operations - Other current assets	16,139	242,637
Discontinued Operations - Total current assets	53,492	445,712
Other Assets
Discontinued Operations - Property and equipment- net	1,227,821	1,329,570
Discontinued Operations - Intangible assets	0	717,859
Discontinued Operations - Total other assets	1,227,821	2,047,429
Discontinued Operations - Total Assets	1,281,313	2,493,141
Current Liabilities
Discontinued Operations - Accounts payable	4,632,405	4,814,936
Discontinued Operations - Notes payable- related parties	210,000	210,000
Discontinued Operations - Current portion of long-term notes payable - related parties	3,313,544	3,313,544
Discontinued Operations - Accrued interest	382,474	0
Discontinued Operations - Rent Concessions	0	125,445
Discontinued Operations - Total current liabilities	8,538,423	8,846,399
Discontinued Operations - Net assets (liabilities)	$ (7,257,110)	$ (6,353,258)

NOTE 5 - DISCONTINUED OPERATIONS: Schedule of Operations of discontinued operations (Details) - USD ($)	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Operating expenses
Discontinued Operations - Operations and maintenance	$ 679,967	$ 849,751
Discontinued Operations - General and administrative	226,916	125,553
Discontinued Operations - Depreciation and amortization	10,348	310.775
Discontinued Operations - Impairment expense	223,025	6,807,832
Discontinued Operations - Loss from operations	(611,941)	(7,506,553)
Other income (expense)
Discontinued Operations - Interest expense	(2,131)	(98,706)
Discontinued Operations - Interest income	0	7,060
Discontinued Operations - Total other income (expense)	0	0
Discontinued Operations - Net Loss	$ (614,072)	$ (7,605,259)

NOTE 6 - ACQUISITIONS (Details) - Acquisition #1	12 Months Ended
NOTE 6 - ACQUISITIONS (Details) - Acquisition #1	Jul. 31, 2020
Business Acquisition, Effective Date of Acquisition	Sep. 01, 2019
Business Acquisition, Name of Acquired Entity	American Network, Inc.
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable Fair Value Method	500,000 shares of the Company’s Common Stock

NOTE 7 - PROPERTY AND EQUIPMENT: Schedule of Property, Plant and Equipment (Details) - USD ($)	Jul. 31, 2020	Jul. 31, 2019
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ (1,005,311)
Property, Plant and Equipment, Net	$ 140,758	$ 136,493
Computer and Telecom equipment
Life	5 years
Property, Plant and Equipment, Gross	$ 1,146,069

NOTE 8 - INDEFINITE LIVED INTANGIBLE ASSETS (Details)	Jul. 31, 2020 USD ($)
Details
Intangible Assets, Net (Excluding Goodwill)	$ 18,934

NOTE 9 - RELATED PARTY TRANSACTIONS (Details) - USD ($)	12 Months Ended
NOTE 9 - RELATED PARTY TRANSACTIONS (Details) - USD ($)	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Family member of a member of the Company's Board of Directors
Related Party Transaction, Date	Oct. 09, 2016
Related Party Transaction, Description of Transaction	Company entered into a short-term loan agreement with a family member of a member of the Company’s Board of Directors (BOD)
Related Party Transaction, Amounts of Transaction	$ 100,000
Related Party Transaction, Rate	3.00%
Revenue from Related Parties	$ 210,000
Promissory Note with related party
Related Party Transaction, Description of Transaction	Company entered into two promissory notes with a Director
Related Party Transaction, Terms and Manner of Settlement	The terms consist of ten principal and interest payments due quarterly
Long-term Debt		$ 2,294,067
Interest Payable		$ 219,434	$ 69,594
Promissory Note with related party - 1
Related Party Transaction, Amounts of Transaction	$ 2,400,000
Promissory Note with related party - 2
Related Party Transaction, Amounts of Transaction	$ 1,000,000
Debt Instrument, Maturity Date	Jun. 09, 2018
Debt Instrument, Interest Rate, Stated Percentage	3.00%

NOTE 10 - CONVERTIBLE DEBT (Details) - Convertible Note 1	12 Months Ended
	Jul. 31, 2020 USD ($)
Debt Instrument, Issuance Date	Feb. 12, 2018
Debt Instrument, Issuer	Company
Debt Instrument, Description	convertible promissory note
Debt Instrument, Face Amount	$ 103,000
Debt Instrument, Interest Rate, Stated Percentage	12.00%
Debt Instrument, Payment Terms	Prepayment of the note is subject to a premium charge based on the amount of days prepaid before the maturity date
Debt Instrument, Convertible, Terms of Conversion Feature	The note allows conversion into the Company’s common stock at a discount of 37 percent of the stock’s market price

NOTE 12 - STOCKHOLDERS' EQUITY: Schedule of Sale of Treasury Stock during the year ended July 31, 2019 (Details)	12 Months Ended
	Jul. 31, 2020 USD ($) $ / shares shares
During Year Ended July 31, 2019 - #1
Treasury Stock Sold, Price Per Share \| $ / shares	$ 0.25
Treasury Stock Sold, Number of Shares \| shares	100,000
Treasury Stock Sold, Value \| $	$ 25,000
During Year Ended July 31, 2019 - #2
Treasury Stock Sold, Price Per Share \| $ / shares	$ 0.24
Treasury Stock Sold, Number of Shares \| shares	166,667
Treasury Stock Sold, Value \| $	$ 40,000
During Year Ended July 31, 2019 - Total
Treasury Stock Sold, Number of Shares \| shares	266,667
Treasury Stock Sold, Value \| $	$ 65,000

NOTE 12 - STOCKHOLDERS' EQUITY (Details)	12 Months Ended
NOTE 12 - STOCKHOLDERS' EQUITY (Details)	Jul. 31, 2019 USD ($) shares
Capital contributions \| $	$ 26,000
Treasury Stock
Capital Contribution, Shares \| shares	(59,874)

NOTE 12 - STOCKHOLDERS' EQUITY: Schedule of Sale of Treasury Stock during the year ended July 31, 2018 (Details)	12 Months Ended
	Jul. 31, 2019 USD ($) $ / shares shares
During Year Ended July 31, 2018 - #1
Treasury Stock Sold, Price Per Share \| $ / shares	$ 0.4629
Treasury Stock Sold, Number of Shares \| shares	30,244
Treasury Stock Sold, Value \| $	$ 14,000
During Year Ended July 31, 2018 - #2
Treasury Stock Sold, Price Per Share \| $ / shares	$ 0.405
Treasury Stock Sold, Number of Shares \| shares	29,630
Treasury Stock Sold, Value \| $	$ 12,000
During Year Ended July 31, 2018 - Total
Treasury Stock Sold, Number of Shares \| shares	59,874
Treasury Stock Sold, Value \| $	$ 26,000