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STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Oct. 31, 2020
Notes to Financial Statements  
Schedule of Stock Option Assumptions

For stock options issued during the three months ended October 31, 2020, the fair value of each stock option award was estimated using the Black-Scholes option-pricing model utilizing the following assumptions:

 

Risk-free interest rate     0.34 %
Expected dividend yield     0 %
Expected volatility     37.85 %
Expected life      5 years  
Schedule of Stock Option Activity

A summary of stock option activity during the three months ended October 31, 2020 is presented below.

 

    Number of
Shares
    Weighted
Average
Exercise Price
    Weighted
Average
Remaining
Contractual
Life (in Years)
 
Stock options outstanding at July 31, 2020     9,000,000     $ 0.10          
Granted     9,000,000       0.10          
Exercised                    
Expired                    
Stock options outstanding at October 31, 2020     9,000,000     $ 0.10       10.00  
                         
Stock options exercisable at October 31, 2020     5,000,000     $ 0.10       10.00