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SUBSEQUENT EVENTS
6 Months Ended
Oct. 31, 2022
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

NOTE 11 - SUBSEQUENT EVENTS

 

Subsequent to October 31, 2022, and through the date that these financials were issued, the Company had the following subsequent events:

 

In November 2022, the Company issued 666,666 shares of common stock for the conversion of convertible note principal of $100,000 at a fixed conversion rate of $0.15 per share.   

 

On November 3, 2022, the COO of the Company returned 1,369,333 shares of common stock to the Company in pursuant to share recapture agreement entered on October 18, 2022. The treasury stock was valued based on cost method at $1.50 per share and recorded under additional paid in capital.

 

On November 4, 2022, the Company entered into a Security Purchase Agreement with an investor pursuant to which the Company issued a $55,000 Promissory Note for a purchase price of $50,000, convertible at 25% of the average of the five (5) lowest Daily VWAP over the ten (10) consecutive VWAP Trading Days immediately preceding the date on which the Market Price is being determined, the Holder elects to convert all or part of the note in the event of default. The note matures on October 04, 2023, and accrues interest at 10%

 

On November 08, 2022, the Company entered into a Settlement Agreement regarding the MNP litigation in which the parties have agreed to resolve their differences and terminate the Litigation. There is no monetary impact or settlement amounts.