Share Capital

6 Months Ended

Jun. 30, 2020

Stockholders' Equity Note [Abstract]

Share Capital

Note 6. Share Capital

Common Stock

The Company is authorized to issue 200 million shares of common stock, par value of $0.0001.

During the six months ended June 30, 2020, the Company issued shares of common stock as follows:

● 12,813,132 shares of common stock, with an aggregate fair value of $100,271, in partial settlement of principal and interest owing to Bespoke Growth Partners,

● 2,400,000 shares of common stock to adjust shares issued in 2019 for consulting services which were not subject to reverse split,

● 559,673 shares of common stock for a commitment fee payable to Crown under the agreement dated in July 2019,

● 645,757 shares of common stock for cash of $19,969,

● 5,000,000 shares of common stock, with a fair value of $60,000, for services to be provided,

● 5,000,000 shares of common stock, with a fair value of $68,500, for services to be provided,

● 2,000,000 shares of common stock, with a fair value of $27,400, for services to be provided, and

● 3,000,000 shares of common stock, with a fair value of $169,500, for services to be provided.

During the six months ended June 30, 2020, 563,760 shares of common stock were returned to the Company for cancellation of stock issued during the acquisitions of Banana Whale and Browning and loan payable to Labrys.

During the year ended December 31, 2019, the Company issued shares of common stock as follows:

● 81,933 shares of common stock, with an aggregate fair value of $126,760, as additional compensation related to acquisition of Browning,

● 200,000 shares of common stock, with an aggregate fair value of $150,000, for consulting services to be provided,

● 100,000 shares of common stock with a fair value of $38,750 for consulting services to be provided,

● 179,104 shares of common stock as security against the loan payable to Labrys which shares were returned to the Company for cancellation in February 2020, and

● 370,000 shares of common stock for a commitment fee payable to Crown.

During the year ended December 31, 2019, 340,000 shares of common stock, issued in December 2018 were returned to the Company for cancellation and the related share subscription due was cancelled.

Stock Purchase Warrants

As at June 30, 2020, the Company had reserved 2,890 shares of its common stock for the outstanding warrants with weighted average exercise price of $20.00. These warrants expired in July 2020.

During the six months ended June 30, 2020, no warrants were issued, forfeited or exercised.