DUE TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS

9 Months Ended

Apr. 30, 2017

NOTE 8:

DUE TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS

During the three and nine months ended April 30, 2017, the Company incurred $30,664 and $134,515 (three and nine months ended April 30, 2016: $30,134 and $128,727), respectively, in general and administrative costs paid to Blender Media Inc. (“Blender”), a company controlled by Arash Adnani, the brother of our President and Chief Executive Officer, for various services including information technology, corporate branding, media, website design, maintenance and hosting, provided to our Company.

During the three and nine months ended April 30, 2017, the Company issued 59,546 and 148,368 restricted common shares with a fair value of $78,572 and $170,060, respectively, as settlement of the equivalent amounts owed to Blender. As a result, no gain or loss on settlement of current liabilities was recognized on the condensed consolidated statements of operation and comprehensive loss.

During the three and nine months ended April 30, 2016, the Company issued 117,998 restricted common shares with a fair value of $109,738 as settlement of amounts owed to Blender totaling $98,371. As a result, a loss on settlement of current liabilities of $11,367 was recognized in the condensed consolidated statements of operations and comprehensive loss.

At April 30, 2017, the amount owing to Blender was $998 (July 31, 2016: $Nil).