Everything Blockchain, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Related Parties and Related Party Transactions

Related Parties and Related Party Transactions

3 Months Ended

Apr. 30, 2023

Note 10. Related Parties and Related Party Transactions

Related party balance sheet items (in thousands)

	As of April 30, 2023		As of January 31, 2023

Prepaid expenses	$	2,000	$	2,000
Accounts payable and accrued expenses		67		28
Loans payable		32		13

Related party income statement items (in thousands)

	For the Three Months Ended April 30,
	2023		2022

Consulting expenses	$	66	$	30
Payroll expenses		119		195
Stock based compensation		650		575

During the quarter ended July 31, 2021, the Company issued 50,000 shares of Series A Preferred Stock to Epic Industry Corp (“Epic”), a wholly owned company of Michael Hawkins. 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.