| Capital Stock |
|
(a) |
On
July 17, 2020, the Company issued 50,000 shares of common stock with an aggregate value
of $69,500 to a former officer of the Company as per the terms of an employment settlement
agreement. |
|
(b) |
On
August 6, 2020, the Company issued 50,000 shares of common stock with a fair value of
$62,500 pursuant to a conversion of $20,000 in principal and $ 42,550 in derivative liability
relating to the November 10, 2015 convertible debenture. The fair value of the common
stock was determined based on closing price of the Company’s common stock of $1.25
per share. This transaction resulted in a gain on extinguishment of debt of $50. |
|
(c) |
On
August 31, 2020, 175,000 stock options were exercised by a director of the Company at
the exercise price of $0.01 per share with an aggregate value of $1,750. The Company
issued 175,000 shares of common stock from the treasury. |
|
(d) |
On
September 28, 2020, the Company issued 95,238 shares of common stock with an aggregate
value of $95,238 under the terms of a sales commission agreement. |
|
(e) |
On
October 19, 2020, the Company issued 525,000 shares of common stock with an aggregate
value of $577,500 as part of the acquisition of Innoergy. |
|
(f) |
On
October 19, 2020, the Company issued 100,000 shares of common stock with an aggregate
value of $100,000 to a former director in recognition and appreciation for his years
of exemplary service and commitment to the Company as a bonus. |
|