SHAREHOLDERS’ DEFICIT

3 Months Ended

Oct. 31, 2024

Equity [Abstract]

SHAREHOLDERS’ DEFICIT

3. SHAREHOLDERS’ DEFICIT

The Company has a single class of Preferred Stock. Holders of Series B Preferred Stock are entitled to vote with the holders of common stock as a single class on all matters. We are currently authorized to issue an aggregate of 401,000,000 shares of capital stock, consisting of 400,000,000 shares of common stock and 1,000,000 designated shares of preferred stock with preferences and rights to be determined by our Board of Directors

Series B Preferred Stock is not redeemable by the Company and has a liquidation value of $100 per share, plus declared and unpaid dividends, if any. Dividends are non-cumulative, and are at the rate of $10 per share, if declared.

No preferred stock dividends were declared for the three months ended October 31, 2024 and 2023.

The Company did not issue any shares of the Company’s common stock during the three months ended October 31, 2024 and 2023.