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Vgrab Application Acquisition Disclosure
12 Months Ended
Oct. 31, 2015
Notes  
Vgrab Application Acquisition Disclosure

NOTE 3 - VGRAB APPLICATION ACQUISITION

 

On January 8, 2015, the Company entered into an agreement with Hampshire Capital Limited (the “Vendor”) to acquire the Vgrab Software Application. The transaction was completed on February 10, 2015. In consideration, the Company issued the Vendor 22,500,000 shares of its common stock with a fair value of $0.19 per share for a total value of $4,275,000, which was expensed as software development costs. The amount expensed was subject to adjustment for foreign exchange and was recorded as $4,303,857 with $28,857 recorded through other comprehensive income (Note 4).