STOCKHOLDERS EQUITY

9 Months Ended

Apr. 30, 2024

Stockholders' Equity

STOCKHOLDERS' EQUITY

NOTE 7 - STOCKHOLDERS’ EQUITY

Preferred Stock

The Company has authorized 50,000,000 shares of preferred stock with a par value of $0.0001 per share. No preferred stock was issued or outstanding as of April 30, 2024, and July 31, 2023.

Common Stock

The Company has authorized 550,000,000 shares of common stock with a par value of $0.0001 per share.

On February 5, 2024, the Company issued 5,000,000 shares of common stock as compensation for a new employee. The Company valued the 5,000,000 shares of common stock based on market price on grant date of $7,500,000 and recorded this as a management expense in general and administrative expenses.  

On February 6, 2024, the Company issued 5,000,000 shares of common stock in connection with assets purchase agreement (Note 5).

As of April 30, 2024, and July 31, 2023, there were 51,410,000 shares and 41,410,000 shares of common stock issued and 45,410,000 shares and 35,410,000 shares of common stock outstanding, respectively.

Treasury Stock

The Company records treasury stock at cost. Treasury stock is comprised of shares of common stock purchased by the Company at par value. As of April 30, 2024, and July 31, 2023, the Company had 6,000,000 shares of treasury stock valued at $600, respectively.