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Subsequent Events
9 Months Ended
Oct. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events

NOTE 9 – Subsequent Events

 

The Company has evaluated subsequent events through the filing date of this Form 10-Q and determined that the following subsequent events have occurred that would require recognition in the consolidated financial statements or disclosures in the notes thereto.

 

On November 8, 2024, the Investor purchased 258,228 restricted shares of the Company’s common stock for net proceeds of $26,461 ($0.10 per share), after deducting the legal fees and clearing expenses.

 

On November 22, 2024, the Investor purchased 318,322 restricted shares of the Company’s common stock for net proceeds of $26,884 ($0.09 per share), after deducting the legal fees and clearing expenses.

 

On December 2, 2024, the Company entered into a promissory note with 1800 Diagonal Lending in the aggregate principal amount of $67,200 (the “December 2024 Note”). The note bears interest at 10%, with an Original Issue Discount of $11,200 plus an additional $6,000 to pay for transaction fees of the lender, matures on September 15, 2025. Pursuant to the terms of the Note, the outstanding principal and accrued interest on the Note shall be paid in 4 set monthly cash payments beginning six months from the effective date. The note may be prepaid with no penalty. The note allows an event of default which may be convertible into shares of the Company’s common stock as set forth therein. At any time following an event of default, the note is convertible into shares of the Company’s common stock at a price of 65% of the lowest weighted average market price of the Company’s common stock during the 10 trading days prior to conversion.

 

On December 11, 2024, the Investor purchased 213,135 restricted shares of the Company’s common stock for net proceeds of $12,675 ($0.067 per share), after deducting the legal fees and clearing expenses.