Share Capital Disclosure |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
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May 31, 2026 | |||||||||||||||||||||||||||||||||||||||||
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| Share Capital Disclosure | NOTE 6 - SHARE CAPITAL
Common stock issued during the year ended May 31, 2026
During the year ended May 31, 2026, the Company issued 750,000 shares valued at $250,000, under an agreement with an investor relations and public relations firm to provide services for an eight-month term, which commenced on March 18, 2025. The total fair value of these shares was measured based on the fair value of the shares issued in accordance with ASC 718 and recognized as part of corporate communications fees included in general and administrative expenses.
On March 19, 2026, the Company issued 250,000 shares valued at $75,025 under an advisory services agreement with an investor relations firm for an initial twelve-month service period that commenced on March 12, 2026. The total fair value of these shares was measured in accordance with ASC 718, based on the fair value of the shares issued. The Company recognized $16,444 as corporate communications fees included in general and administrative expenses; the remaining $58,581 was recorded as prepaid expenses and will be allocated to corporate communications fees as services are provided during the remaining term of the agreement.
Common stock issued during the year ended May 31, 2025
On March 24, 2025, the Company issued 75,000 shares of common stock in settlement of $15,000 owed to one of its vendors. At the time of the transaction, the fair value of the shares was $0.30; therefore, the Company recognized $7,500 loss on the settlement of debt.
On March 18, 2025, the Company entered into an agreement with an investor relations and public relations firm to provide services for an eight-month term, commencing on the same date. Under the Agreement, the Company agreed to issue the consultant 125,000 shares in the Company’s common stock per month for services rendered at a deemed price of $0.20 per share over the eight-month service period for a total consideration of $200,000. As of May 31, 2025, the Company issued a total of 250,000 shares valued at $107,750, which was recognized as part of corporate communications fees included in general and administrative expenses.
Options
As at May 31, 2026 and 2025, the Company did not have any share purchase options issued and exercisable.
Warrants
The changes in the number of warrants outstanding during the years ended May 31, 2026 and 2025, are as follows:
All warrants expired unexercised on March 12, 2026. |
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