Shareholders' Equity

9 Months Ended

Sep. 30, 2021

Stockholders' Equity Note [Abstract]

SHAREHOLDERS’ EQUITY

NOTE 3 – SHAREHOLDERS’ EQUITY

Common stock:

On May 10, 2019 VeganNation entered into a Share Purchase Agreement with an investor pursuant to which VeganNation agreed to issue the investor 349,192 VeganNation ordinary shares, representing 1% of VeganNation’s equity as of such date on a fully diluted basis for total consideration of $60,000 of which the investors provided VeganNation with approximately $56,000. The shares were exchanged as part of the Agreement with the Company as described above.

On November 25, 2019 VeganNation agreed to issue 115,233 ordinary shares for total consideration of $50,000. The shares were exchanged as part of the Agreement as described above.

On January 15, 2020 VeganNation entered into a Share Purchase Agreement with an investor pursuant to which VeganNation agreed to issue the investor 780,140 ordinary shares of the Company, representing 2% of |VeganNation’ss equity as of such date on a fully diluted basis for total consideration of $150,000 of which the investors provided VeganNation with approximately $143,925. The shares were exchanged as part of the Agreement as described above.

On June 30, 2020 VeganNation entered into a letter of understanding with an investor pursuant to which VeganNation agreed to issue to the investor 195,035 ordinary shares of representing 0.5% of VeganNation’s equity as of such date for total consideration of $36,000. The shares were exchanged as part of the Agreement as described above.

On April 20, 2021 VeganNation entered into a Share Purchase Agreement with an investor pursuant to which the Company agreed to issue the investor 390,070 ordinary shares, representing 1% of |VeganNation’s equity as of such date on a fully diluted basis as well as 500,000 Green Tokens for total consideration of $200,000. VeganNation valued the Green Tokens at a price of $0.22 per Green Token and allocated $110,000 of the purchase price to the value of the Green Tokens and the remaining $90,000 to equity. The shares were exchanged as part of the Agreement as described above.

As detailed in note 1 above, On September 30, 2021, the Company completed the Share Exchange Agreement. Pursuant to the Agreement, Sipup will issue an aggregate of 41,062,240 shares of Common Stock to the former VeganNation shareholders in exchange for 100 Ordinary Shares, par value NIS 1.00 per share, of VeganNation, constituting 100% of the issued and outstanding shares of VeganNation, resulting in VeganNation becoming a wholly-owned subsidiary of Sipup.