Common Stock

As of January 31, 2020, and January 31, 2019, the Company had 200,000,000 common shares authorized, with 10,460,000 and 5,460,000 common shares at a par value of $0.0001 issued and outstanding, respectively. MCIG elected to convert its Series A Preferred into the Company’s common stock.

Preferred Stock

As of January 31, 2020, and January 31, 2019, the company had 1,000,000 Series A Preferred shares authorized, with 0 and 100,000 Series A Preferred shares at a par value of $10 issued and outstanding, respectively.  MCIG converted its 100,000 shares of Series A Preferred stock into 5,000,000 shares of common stock on May 1, 2019.  Per the agreement there was no gain or loss on the conversion as specified in the conversion terms.