Stockholders’ Deficit

9 Months Ended

Apr. 30, 2024

Equity [Abstract]

Stockholders’ Deficit

Note 6 – Stockholders’ Deficit

The Company had two classes of stock at April 30, 2024 and July 31, 2023:

Class A Common Stock

- 10,000,000,000 shares authorized

- 41,734,650 and 40,675,006 issued and outstanding, respectively

- Par value - $0.0001

- Voting at 1 vote per share

Series A, Convertible Preferred Stock

- 200,000 shares authorized

- 58,415 and 58,415 issued and outstanding, respectively

- Par value - $0.0001

- Conversion ratio – 1 share of Series A converts into 1,000 shares of common stock (58,415,000 and 58,415,000 shares, respectively)

- Voting on an if converted basis of 1,000 votes per share

- Eligible for dividends/distributions if declared by the Board of Directors

- Liquidation preference - none

Equity Transactions for the Nine Months Ended April 30, 2024 (Fiscal Year Ending July 31, 2024)

Stock Issued for Debt Discount Cash

The Company issued 325,000 shares of common stock as a debt discount, having a fair value of $66,890. See Note 4.

Stock Issued for Services

The Company issued 734,644 shares of common stock for services rendered, having a fair value of $212,578 ($0.2479 - $0.44/share), based upon the quoted closing trading price.

OPENLOCKER HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

APRIL 30, 2024

(UNAUDITED)

Equity Transactions for the Year Ended July 31, 2023 (Fiscal Year Ended July 31, 2023)

Stock Issued for Cash – Related Parties

The Company issued 22,895 shares of preferred stock to certain officers and directors for $15,264 ($0.6667/share).

Stock Issued for Cash

The Company issued 1,637,500 shares of common stock for $370,000 ($0.20 - $0.40/share).

Also see Note 10 for warrants issued in connection with the sale of certain common stock units, which consisted of 1,425,000 shares of common stock and 1,425,000 warrants.

Stock Issued for Services

The Company issued 655,000 shares of common stock for services rendered, having a fair value of $302,350 ($0.35 - $0.498/share), based upon the quoted closing trading price.

Contributed Capital – Related Parties

Certain officers and directors contributed $2,116 on behalf of the Company for operating expenses.