Annual report pursuant to Section 13 and 15(d)

Warrants

v3.21.1
Warrants
12 Months Ended
Jan. 31, 2021
Warrants  
7. Warrants

On November 1, 2017 the Company issued 7 warrants to officers, directors, and investors for the purchase of up to 3,000,000 shares of common stock at $1.00 per share. The warrants expire on November 1, 2022 at 5:00 PM Eastern Standard Time. The warrants were registered with the SEC on December 10, 2018.

 

On April 21, 2020 the Company cancelled the warrant issued to one previous officer of the Company for the purchase of up to 250,000 shares of common stock at $1.00 per share.

 

On December 9, 2020 the Law Offices of Carl G. Hawkins elected to exercise 20,000 common shares under its warrant at the price of $1.00 per share. The payment was offset by accounts payable.

  

On December 9, 2020 Epic Industry Corp assign 35,000 warrants to Overwatch Partners, Inc. Subsequently, Overwatch Partners, Inc., elected to exercise the warrants 35,000 through the reduction of $35,000 in outstanding payables due to Overwatch Partners, Inc.

 

A summary of warrant activity for years ended January 31, 2021 and January 31, 2020 are as follows:

 

 

 

 

 

Weighted

 

 

 

 

 

Average

 

 

 

 

 

Conversion

 

 

 

Shares

 

 

Price

 

 

 

 

 

 

 

 

Warrants outstanding at January 31, 2019

 

 

3,000,000

 

 

$ 1.00

 

Exercised in fiscal year 2020

 

 

-

 

 

 

-

 

Granted in fiscal year 2020

 

 

-

 

 

 

-

 

Warrants outstanding at January 31, 2020

 

 

3,000,000

 

 

$ 1.00

 

Cancelled in fiscal year 2021

 

 

250,000

 

 

 

1.00

 

Exercised in fiscal year 2021

 

 

75,000

 

 

 

1.00

 

Granted in fiscal year 2021

 

 

-

 

 

 

-

 

Warrants outstanding at January 31, 2021

 

 

2,675,000

 

 

$ 1.00