Equity

9 Months Ended

Apr. 30, 2023

Equity [Abstract]

EQUITY

NOTE 11 – EQUITY

During the nine months ended April 30, 2023, the Company issued 5,714,407 shares of common stock in connection with new convertible promissory notes. At the time of issuance, the Company recognized the relative fair market value of the commons shares of approximately $430,000 as debt discount, and it will be amortized to interest expense during the term of the promissory notes.

During the nine months ended April 30, 2023, the Company issued 5,240,000 shares of common stock as consideration for the extension of maturity dates for the convertible promissory notes. The Company recognized the fair market value of the common shares of approximately $505,000 which was recognized as interest at the time of each extension.

During the nine months ended April 30, 2023, the Company issued 170,305 shares of common stock to various individuals for the exercise of 170,305 warrants, with an exercise price of $0.13 per warrant and secured $22,139 in proceeds.

During the nine months ended April 30, 2023, the Company issued 3,000,000 shares of common stock in connection with the conversion of $150,000 of convertible promissory notes.

During the nine months ended April 30, 2023, the Company issued 855,050 shares of common stock to various Series A Preferred Shareholders who converted 200,000 Series A Convertible Preferred Stock shares and $56,516 of accrued dividends.

During the nine months ended April 30, 2023, the Company issued 1,370,551 shares of common stock in conjunction with incentive plan accomplishments.