Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity
Securities and Use of Proceeds.
During the three-months ended January 31, 2022,
we issued an aggregate of 4,400 unregistered shares of common stock to our executive officers pursuant to their respective 2022 executive
compensation agreements. The non-cash expense for this share issuance totaled $11,000.
During the three-months ended January 31, 2022,
we issued an aggregate of 6,000 stock options to our three executive officers pursuant to their 2022 executive compensation agreements.
The non-cash expense for stock option totaled $11,670.
All such securities were issued without registration
under the Securities Act in reliance upon the exemption afforded by Section 4(a)(2) of that Act.
Item 3. Defaults Upon Senior Securities.
None.
Item 4. Mine Safety Disclosure.
Not applicable.
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