SHAREHOLDERS' DEFICIT |
3 Months Ended |
|---|---|
Apr. 30, 2016 | |
| SHAREHOLDERS' DEFICIT | |
| SHAREHOLDERS' DEFICIT | 8. STOCKHOLDERS’ DEFICIT
Preferred Shares
The Company is authorized to issue 10,000,000 shares of preferred stock, par value $0.001 per share.
No shares of preferred stock were issued or outstanding during the three months ended April 30, 2016 and 2015.
Common Shares
The Company is authorized to issue 200,000,000 shares of common stock, par value $0.0001 per share.
On March 18, 2016, the directors approved 100,000 shares of the Company's common stock be issued to Azur Universal Inc and were issued at $.65 per share as per the agreement signed July 8, 2014 (See Note 7). The amount was recorded as deposit on software acquisition under other current assets.
STOCK OPTIONS
The Company adopted the 2013 Equity Incentive Plan (the “Plan”) on January 31, 2012, reserving 5,500,000 shares for future issuances, of which a maximum of 2,500,000 may be issued as incentive stock options. The Plan provides for the issuance of non-statutory stock options or restricted stock to officers and employees, with an exercise price that is at least equal to the fair market value of the Company’s common stock on the date of grant. Vesting terms and the lives of the options are to be determined by the Board of Directors upon grant. As of April 30, 2016 and 2015, no options have been issued under this Plan. |