WARRANTS (Tables)

3 Months Ended

Jul. 31, 2018

Assumptions used to Estimate Fair Value of Warrant

The following table summarizes the assumptions used to estimate the fair value of warrants granted during the three months ended July 31, 2018:

	As of July 31, 2018

Expected dividend yield		0	%
Weighted-average expected volatility		74.8	%
Weighted-average risk-free interest rate		2.77-2.85	%
Expected life of warrants	4 years

Warrants Outstanding and Exercisable

The Company’s outstanding and exercisable warrants as of July 31, 2018 and December 31, 2017 are presented below:

	Number Outstanding		Weighted Average Exercise Price		Contractual Life in Years		Fair Value

Warrants Outstanding and Exercisable as of December 31, 2017		-	$	-		-	$	-

Warrants granted (June 2018)		3,000,000	$	0.30		4.00	$	1,748,920

Warrants Forfeited		-	$	-		-	$	-

Warrants Exercised		-	$	-		-	$	-

Warrants Outstanding and Exercisable as of July 31, 2018		3,000,000	$	0.30		4.00	$	3,333,621

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details