Common Stock |
12 Months Ended | ||
|---|---|---|---|
Feb. 29, 2020 | |||
| Related Party One [Member] | |||
| Common Stock |
On May 4, 2018, the Company issued 2,000,000 shares of common stock with a fair value of $200,000 pursuant to an Asset Purchase Agreement (see Note 3).
On September 25, 2018, the Company issued 60,000 shares of common stock with a fair value of $6,000 pursuant to Employee Stock Compensation Agreements.
On April 2, 2019, the Company issued 40,000 units for cash at $0.25 per unit for proceeds of $10,000. Each unit consisted of one share of common stock and one share purchase warrant. Each warrant is exercisable at $0.40 per warrant for a period of one year. The fair value of the warrants included in the units totaled $1,679, which was determined using the Black-Scholes option pricing model with the following range of assumptions: Risk-free rate – 2.52% to 2.54%, dividend yield – 0%, expected volatility – 193.23% to 193.92%, and expected life – 2 years.
On April 2, 2019, the Company issued 15,000 shares of common stock with a fair value of $0.25 per share for services of $3,750 pursuant to an Employee Stock Compensation Agreement. On September 19, 2019, the Company received and cancelled 900,000 shares of common stock, which were received from a shareholder of the Company for no consideration.
On October 21, 2019, the Company received and cancelled 1,875,000 shares of common stock, which were received from a shareholder of the Company for no consideration. |