10. SUBSEQUENT EVENTS |
3 Months Ended |
|---|---|
Apr. 30, 2017 | |
| Notes | |
| 10. SUBSEQUENT EVENTS | 10. SUBSEQUENT EVENTS
The Company settle a consultants invoice of $15,000 by issuing 8,832,530 common shares on May 8, 2017.
The Company received $5,000 from an investor for 2,500 Series B Preferred shares and 1,470,588 common shares.
The Company reached an agreement on May 4, 2017 with Convertible Noteholder 3 related to a note for $52,500 where by half of the note has been repaid in cash and the balance of the loan has been extended for an additional six months up to November 4, 2017 during which time the note is not convertible. The total cash payment of $34,438 is being applied $26,250 to the principle and the remaining to interest and prepayment penalties.
The Company signed agreements with an investor for a loan of $53,000 on May 8, 2017 and net funds were received upon filing the 10K for year ending January 31, 2017. The agreement called for the Company to be current in its filings to avoid any default. This note matures on February 20, 2018 and bears an interest rate of 8% and allows for prepayment between 112% and 137% depending on the date; and would be convertible on or about November 15, 2017 when funded. Once the conversion terms are effective the note is convertible into shares at the greater of $0.00008 or 61% of the market value as calculated per the agreement. |