XML 20 R6.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
6 Months Ended
Jul. 31, 2020
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES  
Net loss $ (1,066,928)
Adjustments to reconcile net loss to net cash used in operating activities  
Stock-based compensation 183,472
Common stock issued for services 17,914
Change in fair value of investment securities (1,639)
Write-off of consideration paid for acquisition of Maughan Music Group, LLC 115,532
Change in operating assets and liabilities:  
Prepaid expenses and other current assets (2,945)
Accounts payable and accrued expenses 170,972
Compensation and related expenses payable 120,317
Accrued interest payable 427
Net cash used in operating activities (462,878)
CASH FLOWS FROM INVESTING ACTIVITIES:  
Increase in project development costs (134,413)
Net cash used in investing activities (134,413)
CASH FLOWS FROM FINANCING ACTIVITIES  
Cash acquired in reverse merger 572
Proceeds from issuance of convertible promissory note payable 25,000
Proceeds from sale of common stock 440,000
Proceeds from common stock subscriptions receivable 150,000
Net cash provided by financing activities 615,572
Net increase (decrease) in cash and cash equivalents 18,281
Cash - beginning of period
Cash - end of period 18,281
Supplemental disclosure of cash flow information  
Interest paid
Taxes paid
NONCASH INVESTING AND FINANCING ACTIVITIES  
Shares issued in reverse acquisition transaction 9,369
Common stock issued in connection with acquisition of Maughan Music Group, LLC $ 115,532