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Subsequent Events
3 Months Ended
Jul. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events

NOTE 17 - SUBSEQUENT EVENTS

 

On July 3, 2019, Pruvit Ventures, Inc. filed a lawsuit against Elevacity U.S,. LLC, a wholly-owned subsidiary of the Company, alleging breach of contract by Elevacity. Elevacity has denied the Plaintiff’s claim.

 

On August 8, 2019, the Company issued 10,000,000 shares of its Class A common stock to a director upon the exercise of stock warrants previously awarded in connection with the director’s employment agreement.

 

On August 22, 2019, the Company filed a lawsuit against Kenyatto M. Jones, Bear Bull Market Dividends, Inc. and Research and Referral, BZ for breach of contract, statutory fraud in a stock transaction, and violations of the Texas Securities Act. Kenyatto M. Jones, Bear Bull Market Dividends, Inc. and Research and Referral, BZ are purported beneficial owners of shares of the Company’s equity securities, which is the subject of the referenced lawsuit.

 

On August 30, 2019, the Company and certain of its affiliated entities filed a lawsuit against Founder and former consultant Robert Oblon for breach of contract, tortious interference with business relationships, and misappropriation of trade secrets, and sought injunctive relief. The Company and such affiliated entities filed an amended petition September 9, 2019 and were awarded temporary injunctive relief protecting its intellectual property.

 

On September 4, 2019, the Company issued 150,000 shares of its Class A common stock for professional services valued at $24,000, based on the closing price of the Company’s stock on that date.

 

On September 10, 2019, the Company and a former consultant to the Company agreed to settle a legal dispute concerning that certain “Sharing Services Contractor Agreement” dated January 10, 2018. A resolution was also reached with the key principals of the former consultant concerning a dispute regarding various trademarks and trade names utilized by the Company. As of the date herein, the parties are in the process of formalizing s Settlement Agreement, which will include: (i) a full release of all claims, (ii) a dismissal of all pending litigation between the parties and (iii) the surrender of all claims by the former consultant to the disputed trademarks and trade names.

 

As of the date of filing of this Quarterly Report, the Company has paid in full its borrowings related to the Cash Advance Loan Transaction discussed above.