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Note 4 - Stockholder Equity
3 Months Ended
Jan. 31, 2021
Equity [Abstract]  
Stockholder Equity

Note 4 – Stockholder Equity   

 

Preferred Shares Issued

 

The authorized preferred stock of the Company consists of 5,000,000 shares with a par value of $0.001 per share, of which 3,000,000 shares were designated as Series A Preferred Stock (the “Series A Preferred Stock”). Each share of the Series A Preferred Stock are initially convertible into 100 shares of common stock. All 3,000,000 shares of Series A Preferred Stock were issued and outstanding as of January 31, 2021.

 

Common Shares Issued

 

The authorized common stock of the Company consists of 1,000,000,000 shares with a par value of $0.001. There were 279,671,677 shares of common stock issued and outstanding as of January 31, 2021.

 

Restricted Stock Unit Awards 

 

During the three months ended January 31, 2021, 535,000 shares of common stock were issued to seven employees of the Company under restricted stock unit (“RSU”) agreements, resulting in $76,700 of share-based compensation. Of the shares issued to employees, 211,500 shares were withheld by the Company to satisfy tax withholding obligations equal to $30,511.

 

During the three months ended January 31, 2021, 2,065,547 shares of common stock were issued to 6 non-employee vendors as compensation for professional services rendered to the Company. These shares were expensed to the Company using the closing share price on the share issue dates to compute a total of $1,034,596.