NOTE 5 – ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Accounts payable and accrued liabilities consisted of the following:

Included within interest payable at January 31, 2026 is accrued default interest associated with a note payable to Robbins LLP.

During the year ended January 31, 2026, the Company settled a significant portion of outstanding accounts payable and accrued liabilities through the issuance of common stock.

On January 31, 2026, the Company settled liabilities including accounts and interest payable totaling $3,926,533 through the issuance of 5,609,333 shares of common stock. The shares were issued at a stated price of $0.70 per share, with an estimated fair value of $0.265 per share, resulting in total consideration of $1,486,473. Accordingly, the Company recognized a gain on settlement of $2,440,060, representing the difference between the carrying value of the liabilities extinguished and the fair value of the equity instruments issued.

In addition, for the fiscal year ended January 31, 2026, the Company recognized gains of $30,400 and $8,503 attributable to the forgiveness of certain accounts payable and accrued liabilities, and certain interest payable, respectively.

These transactions were accounted for in accordance with ASC 470-50, Debt—Modifications and Extinguishments, and ASC 820, Fair Value Measurement.