Quarterly report pursuant to Section 13 or 15(d)

Related Parties and Related Party Transactions

v3.22.2.2
Related Parties and Related Party Transactions
 6 Months Ended
Jul. 31, 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 July 31,

2022

 

 

As of January 31, 2022

 

 

 

 

 

 

 

 

Prepaid expenses

 

 $ 2,000

 

 

 $ 2,000

 

Accounts payable and accrued expenses

 

 

 -

 

 

 

 24

 

Loans receivable

 

 

 6

 

 

 

 -

 

Loans payable

 

 

 -

 

 

 

 24

 

 

 

Related party income statement items (in thousands)

 

 

 

For the Three Months Ended

 

 

For the Six Months Ended

 

 

 

July 31,

 

 

July 31,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consulting expenses

 

 $ 30

 

 

 $ -

 

 

 $ 60

 

 

 $ -

 

Stock based compensation

 

 

                          575

 

 

 

                               -

 

 

 

                       1,150

 

 

 

                                  -

 

Payroll expenses

 

 

 144

 

 

 

 -

 

 

 

 339

 

 

 

 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.