EQUITY

9 Months Ended

Apr. 30, 2024

EQUITY

EQUITY

NOTE 10 - EQUITY

Authorized Preferred Stock

The Company has authorized 10,000,000 shares of preferred stock at par value of $0.001 per share.

Series A Preferred stock 

The Company has designated 100,000 shares of preferred stock at par value of $0.001 per share.

· The Series A Preferred Shares share in any dividends pari passu with the holders of common stock;

· The Series A Preferred Shares have a liquidation preference equal to $10.00 per share;

· Each share of Series A Preferred Stock entitles the holder to 10 votes on any matter presented to the holders of the Common Stock:

· The Series A Preferred Shares have the right to convert into shares of Common Stock at a 25% discount to the next financing of $1,000,000 or more, subject to adjustment for stock splits or combinations, dividends and distributions of Common Shares, reorganizations, mergers or consolidations, or for issuance of shares of common stock below the conversion price:

· The Company has no right to redeem the shares; and

As of April 30, 2024, and July 31, 2023, the Company had 100,000 shares of preferred stock issued and outstanding.

Authorized Common Stock

The Company has authorized 300,000,000 shares of common stock at par value of $0.001 per share. Each share of common stock entitles the holder to one vote on any matter on which action of the stockholders of the corporation is sought.

During the nine months ended April 30, 2024, the Company issued 11,400,000 shares for the settlement of due to a related party of $2,850,000.

As of April 30, 2024, and July 31, 2023, the Company had no options and warrants outstanding.

As of April 30, 2024, and July 31, 2023, the Company had 11,986,686 and 586,686 shares of common stock issued and outstanding, respectively.