Warrants

3 Months Ended

Oct. 31, 2019

Warrants Abstract

Warrants

Note 14 - Warrants:

A summary of the Company’s warrant activities is as follows:

	Number of Warrants			Weighted Average Exercise Price per Share		Weighted Average Remaining Life (Years)		Aggregate Intrinsic Value
Outstanding - July 31, 2019		15,399,681		$	2.53		0.40	$	4,500,000
Issued		62,857			3.50		5.01		—
Forfeited		(57,143	)		3.50		—		—
Outstanding - October 31, 2019		15,405,395		$	2.52		0.18	$	—

During the three months ended October 31, 2019, the Company issued 62,857 to investors of convertible notes and 57,143 warrants were forfeited upon settlement of a note. All the warrants issued vested immediately upon issuance. Additionally, 84,000 warrants are to be issued to AEXG in connection with an arbitrator’s award (Note 4).