Quarterly report pursuant to Section 13 or 15(d)

Related Parties and Related Party Transactions

v3.22.1
Related Parties and Related Party Transactions
 3 Months Ended
Apr. 30, 2022
Related Parties and Related Party Transactions  
Related Parties and Related Party Transactions

Note 10. Related Parties and Related Party Transactions

 

Related party balance sheet items (in thousands)

 

 

As of April 30,

2022

 

 

As of January 31, 2022

 

 

 

 

 

 

Prepaid expenses

 

 $ 2,000

 

 

 $ 2,000

 

Accounts payable and accrued expenses

 

 

 -

 

 

 

 24

 

Loans payable

 

 

 18

 

 

 

 24

 

 

Related party income statement items (in thousands)

 

 

As of April 30, 

 

 

 

2022

 

 

2021

 

 

 

 

 

 

Consulting expenses

 

 $ 30

 

 

 $ -

 

Payroll expenses

 

 

 195

 

 

 

 114

 

 

During the quarter ended July 31, 2021, the Company issued 50,000 shares of Series A Preferred Stock to Epic. The issuance was done as a prepayment for services to generate sales for the Company. The shares are earned as sales generated by Epic achieve certain sales targets.