Cover
Cover - shares | 6 Months Ended | |
Jul. 31, 2022 | Sep. 14, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jul. 31, 2022 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --01-31 | |
Entity File Number | 000-50071 | |
Entity Registrant Name | LIBERTY STAR URANIUM & METALS CORP. | |
Entity Central Index Key | 0001172178 | |
Entity Tax Identification Number | 90-0175540 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 2 East Congress Street Ste. 900 | |
Entity Address, City or Town | Tucson | |
Entity Address, State or Province | AZ | |
Entity Address, Postal Zip Code | 85701 | |
City Area Code | 520 | |
Local Phone Number | 425-1433 | |
Title of 12(b) Security | Common | |
Trading Symbol | LBSR | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 16,369,410 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) | Jul. 31, 2022 | Jan. 31, 2022 |
Current: | ||
Cash and cash equivalents | $ 2,445 | $ 102,741 |
Subscription receivable | 187,030 | |
Prepaid expenses | 22,267 | 13,066 |
Total current assets | 211,742 | 115,807 |
Property and equipment, net | 24,805 | 27,722 |
Total assets | 236,547 | 143,529 |
Current: | ||
Accounts payable and accrued liabilities | 259,819 | 486,629 |
Accounts payable to related parties | 51,119 | |
Accrued wages to related parties | 51,762 | 811,711 |
Advances from related parties | 18,846 | |
Note payable | 13,958 | |
Notes payable to related parties | 13,121 | |
Convertible promissory note, net of unamortized debt discount of $33,526 and $20,178 | 177,912 | 181,122 |
Derivative liability | 458,796 | |
Total current liabilities | 981,093 | 1,543,702 |
Long-term: | ||
Long-term debt - SBA | 32,400 | 64,897 |
Total long-term liabilities | 32,400 | 64,897 |
Total liabilities | 1,013,493 | 1,608,599 |
Commitments and Contingencies (Note 10) | ||
Stockholders’ deficit: | ||
Common stock, value | 157 | 135 |
Additional paid-in capital | 56,434,920 | 56,503,616 |
Accumulated deficit | (57,212,024) | (57,968,822) |
Total stockholders’ deficit | (776,946) | (1,465,070) |
Total liabilities and stockholders’ deficit | 236,547 | 143,529 |
Common Class A [Member] | ||
Stockholders’ deficit: | ||
Common stock, value | $ 1 | $ 1 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) | Jul. 31, 2022 | Jan. 31, 2022 |
Unamortized debt discount | $ 33,526 | $ 20,178 |
Common stock, par value | $ 0.00001 | $ 0.00001 |
Common stock, shares authorized | 24,800,000 | 24,800,000 |
Common stock, shares issued | 15,766,053 | 13,458,752 |
Common stock, shares outstanding | 15,766,053 | 13,458,752 |
Common Class A [Member] | ||
Common stock, par value | $ 0.00001 | $ 0.00001 |
Common stock, shares authorized | 200,000 | 200,000 |
Common stock, shares issued | 102,000 | 102,000 |
Common stock, shares outstanding | 102,000 | 102,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2022 | Jul. 31, 2021 | Jul. 31, 2022 | Jul. 31, 2021 | |
Income Statement [Abstract] | ||||
Revenues | ||||
Expenses: | ||||
Geological and geophysical costs | 36,830 | 4,802 | 37,506 | 6,561 |
Salaries and benefits | 40,980 | 37,197 | 84,750 | 73,756 |
Professional services | 69,187 | 3,798 | 97,971 | 44,082 |
General and administrative | 187,031 | 57,345 | 223,016 | 72,835 |
Net operating expenses | 334,028 | 103,142 | 443,243 | 197,234 |
Loss from operations | (334,028) | (103,142) | (443,243) | (197,234) |
Other income (expense): | ||||
Interest expense | (91,757) | (56,189) | (131,791) | (94,373) |
Gain on forgiveness of SBA loan | 32,851 | |||
Gain on settlement of debt | 998,284 | |||
Gain on change in fair value of derivative liability | 370,745 | 26,338 | 300,697 | 76,990 |
Total other income (expense) | 278,988 | (29,851) | 1,200,041 | (17,383) |
Net income (loss) | $ (55,040) | $ (132,993) | $ 756,798 | $ (214,617) |
Net income (loss) per share of common stock - basic | $ 0 | $ (0.01) | $ 0.05 | $ (0.02) |
Net income (loss) per share of common stock - diluted | $ 0 | $ (0.01) | $ 0.05 | $ (0.02) |
Weighted average shares outstanding - basic | 14,223,102 | 10,244,049 | 13,854,141 | 10,144,455 |
Weighted average shares outstanding - diluted | 14,223,102 | 10,244,049 | 13,973,780 | 10,144,455 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Deficit (Unaudited) - USD ($) | Common Stock [Member] Common Class A [Member] | Common Stock [Member] | Common Stock To Be Issued [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Jan. 31, 2021 | $ 1 | $ 99 | $ 15,000 | $ 55,503,564 | $ (57,530,141) | $ (2,011,477) |
Beginning balance, shares at Jan. 31, 2021 | 102,000 | 9,902,052 | ||||
Shares issued for conversion of notes | $ 1 | 26,999 | 27,000 | |||
Shares issued for conversion of notes, shares | 33,881 | |||||
Reclass of APIC to derivative liabilities for tainted warrants | (293,528) | (293,528) | ||||
Resolution of derivative liabilities due to debt conversions and untainted warrants | 17,406 | 17,406 | ||||
Net income(loss) | (81,624) | (81,624) | ||||
Issuance of common stock and warrants in private placement and warrant exercises | $ 1 | (15,000) | 122,099 | 107,100 | ||
Issuance of common stock and warrants in private placement and warrant exercises, shares | 116,230 | |||||
Ending balance, value at Apr. 30, 2021 | $ 1 | $ 101 | 55,376,540 | (57,611,765) | (2,235,123) | |
Ending balance, shares at Apr. 30, 2021 | 102,000 | 10,052,163 | ||||
Beginning balance, value at Jan. 31, 2021 | $ 1 | $ 99 | 15,000 | 55,503,564 | (57,530,141) | (2,011,477) |
Beginning balance, shares at Jan. 31, 2021 | 102,000 | 9,902,052 | ||||
Net income(loss) | (214,617) | |||||
Ending balance, value at Jul. 31, 2021 | $ 1 | $ 102 | 55,710,395 | (57,744,758) | (2,034,260) | |
Ending balance, shares at Jul. 31, 2021 | 102,000 | 10,150,635 | ||||
Beginning balance, value at Apr. 30, 2021 | $ 1 | $ 101 | 55,376,540 | (57,611,765) | (2,235,123) | |
Beginning balance, shares at Apr. 30, 2021 | 102,000 | 10,052,163 | ||||
Shares issued for conversion of notes | $ 1 | 69,899 | 69,900 | |||
Shares issued for conversion of notes, shares | 98,472 | |||||
Resolution of derivative liabilities due to debt conversions and untainted warrants | 263,956 | 263,956 | ||||
Net income(loss) | (132,993) | (132,993) | ||||
Ending balance, value at Jul. 31, 2021 | $ 1 | $ 102 | 55,710,395 | (57,744,758) | (2,034,260) | |
Ending balance, shares at Jul. 31, 2021 | 102,000 | 10,150,635 | ||||
Beginning balance, value at Jan. 31, 2022 | $ 1 | $ 135 | 56,503,616 | (57,968,822) | (1,465,070) | |
Beginning balance, shares at Jan. 31, 2022 | 102,000 | 13,458,752 | ||||
Shares issued for conversion of notes | $ 1 | 44,999 | 45,000 | |||
Shares issued for conversion of notes, shares | 144,304 | |||||
Options issued related to settlement agreement | 44,706 | 44,706 | ||||
Reclass of APIC to derivative liabilities for tainted warrants | (731,226) | (731,226) | ||||
Resolution of derivative liabilities due to debt conversions and untainted warrants | 22,712 | 22,712 | ||||
Net income(loss) | 811,838 | 811,838 | ||||
Ending balance, value at Apr. 30, 2022 | $ 1 | $ 136 | 55,884,807 | (57,156,984) | (1,272,040) | |
Ending balance, shares at Apr. 30, 2022 | 102,000 | 13,603,056 | ||||
Beginning balance, value at Jan. 31, 2022 | $ 1 | $ 135 | 56,503,616 | (57,968,822) | (1,465,070) | |
Beginning balance, shares at Jan. 31, 2022 | 102,000 | 13,458,752 | ||||
Shares issued for conversion of notes, shares | 684,199 | |||||
Options issued related to settlement agreement | 44,706 | |||||
Net income(loss) | $ 756,798 | |||||
Stock based compensation, shares | ||||||
Ending balance, value at Jul. 31, 2022 | $ 1 | $ 157 | 56,434,920 | (57,212,024) | $ (776,946) | |
Ending balance, shares at Jul. 31, 2022 | 102,000 | 15,766,053 | ||||
Beginning balance, value at Apr. 30, 2022 | $ 1 | $ 136 | 55,884,807 | (57,156,984) | (1,272,040) | |
Beginning balance, shares at Apr. 30, 2022 | 102,000 | 13,603,056 | ||||
Shares issued for conversion of notes | $ 5 | 141,015 | 141,020 | |||
Shares issued for conversion of notes, shares | 539,895 | |||||
Reclass of APIC to derivative liabilities for tainted warrants | (1,855) | (1,855) | ||||
Resolution of derivative liabilities due to debt conversions and untainted warrants | 55,762 | 55,762 | ||||
Net income(loss) | (55,040) | (55,040) | ||||
Issuance of common stock and warrants in private placement and warrant exercises | 5,000 | 5,000 | ||||
Issuance of common stock and warrants in private placement and warrant exercises, shares | 13,298 | |||||
Issuance of common shares for subscription receivable | $ 11 | 187,019 | 187,030 | |||
Stock Issued During Period, Shares, Other | 1,109,804 | |||||
Stock based compensation | $ 5 | 163,172 | 163,177 | |||
Stock based compensation, shares | 500,000 | |||||
Ending balance, value at Jul. 31, 2022 | $ 1 | $ 157 | $ 56,434,920 | $ (57,212,024) | $ (776,946) | |
Ending balance, shares at Jul. 31, 2022 | 102,000 | 15,766,053 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 756,798 | $ (214,617) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Depreciation | 2,917 | 2,917 |
Expenses paid by related parties | 22,376 | |
Stock based compensation | 163,177 | |
Amortization of debt discounts | 120,976 | 73,551 |
Gain on change in fair value of derivative liabilities | (300,697) | (76,990) |
Gain on forgiveness of SBA loan | (32,851) | |
Gain on settlement of debt | (998,284) | |
Changes in assets and liabilities: | ||
Prepaid expenses | 15,549 | (2,589) |
Accounts payable and accrued expenses | (5,709) | (6,162) |
Accrued interest | 4,720 | 17,112 |
Cash flows used in operating activities: | (273,404) | (184,402) |
Cash flows from financing activities: | ||
Repayment of advances related parties | (150) | |
Proceeds from advances related parties | 17,050 | |
Proceeds from notes payable | 32,497 | |
Payments on notes payable | (10,792) | |
Proceeds from convertible promissory notes | 162,000 | 110,000 |
Proceeds from the issuance of common stock and warrants | 5,000 | 105,000 |
Proceeds from exercise of warrants | 2,100 | |
Net cash provided by financing activities | 173,108 | 249,597 |
Increase in cash and cash equivalents | (100,296) | 65,195 |
Cash and cash equivalents, beginning of period | 102,741 | 6,718 |
Cash and cash equivalents, end of period | 2,445 | 71,913 |
Supplemental disclosure of cash flow information: | ||
Income tax paid | ||
Interest paid | ||
Supplemental disclosure of non-cash items: | ||
Resolution of derivative liabilities due to debt conversions and untainted warrants | 78,474 | 281,361 |
Reclass of APIC to derivative liabilities for tainted warrants | 733,081 | 293,528 |
Debt discounts due to derivative liabilities | 104,886 | 64,823 |
Common stock issued for conversion of debt and interest | 186,020 | 96,900 |
Expenses paid by related party on behalf of the Company | 1,946 | 22,376 |
Prepaid insurance financed with note payable | 24,750 | |
Issuance of common shares for subscription receivable | $ 187,030 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jul. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation | NOTE 1 – Basis of Presentation The consolidated financial statements included herein have been prepared by Liberty Star Uranium & Metals Corp. (the “Company”, “we”, “our”) without audit, pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”) and should be read in conjunction with our annual report on Form 10-K for the year ended January 31, 2022 as filed with the SEC under the Securities and Exchange Act of 1934 (the “Exchange Act”) on May 17, 2022. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted, as permitted by the SEC, although we believe the disclosures which are made are adequate to make the information presented not misleading. The consolidated financial statements reflect, in the opinion of management, all normal recurring adjustments necessary to present fairly our financial position at July 31, 2022, and the results of our operations and cash flows for the periods presented. Interim results are subject to significant seasonal variations and the results of operations for the three and six months ended July 31, 2022, are not necessarily indicative of the results to be expected for the full year. |
Going concern
Going concern | 6 Months Ended |
Jul. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going concern | NOTE 2 – Going concern The Company has incurred losses from operations and requires additional funds for further exploratory activity and to maintain its claims prior to attaining a revenue generating status. There are no assurances that a commercially viable mineral deposit exists on any of our properties. In addition, the Company may not find sufficient ore reserves to be commercially mined. As such, there is substantial doubt about the Company’s ability to continue as a going concern. Management is working to secure additional funds through the exercise of stock warrants already outstanding, equity financings, debt financings or joint venture agreements. The consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jul. 31, 2022 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 3 – Summary of Significant Accounting Policies Fair Value ASC 820 Fair Value Measurements and Disclosures (“ASC 820”), defines fair value, establishes a framework for measuring fair value and enhances disclosures about fair value measurements. It defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities that are not active; and model-driven valuations whose inputs are observable or whose significant value drivers are observable. Valuations may be obtained from, or corroborated by, third-party pricing services. Level 3: Unobservable inputs to measure fair value of assets and liabilities for which there is little, if any market activity at the measurement date, using reasonable inputs and assumptions based upon the best information at the time, to the extent that inputs are available without undue cost and effort. Schedule of Fair Value of Financial Instruments Fair value measurements at reporting date using: Description Fair Value Quoted prices in active markets for identical liabilities (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Warrant and convertible note derivative liability at July 31, 2022 $ 458,796 - - $ 458,796 Warrant and convertible note derivative liability at January 31, 2022 $ - - - $ - Our financial instruments consist of cash and cash equivalents, prepaid expenses, accounts payable, accrued liabilities, notes payable, convertible notes payable, and derivative liability. It is management’s opinion that we are not exposed to significant interest, currency or credit risks arising from these financial instruments. With the exception of the derivative liability, the fair value of these financial instruments approximates their carrying values based on their short maturities or for long-term debt based on borrowing rates currently available to us for loans with similar terms and maturities. Gains and losses recognized on changes in estimated fair value of the derivative liability are reported in other income (expense) as gain (loss) on change in fair value of derivative liability. Income Taxes Income taxes are recorded using the asset and liability method. Under the asset and liability method, tax assets and liabilities are recognized for the tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Future tax assets and liabilities are measured using the enacted tax rates expected to apply when the asset is realized or the liability settled. The effect on future tax assets and liabilities of a change in tax rates is recognized in income in the period that enactment occurs. To the extent that the Company does not consider it more likely than not that a future tax asset will be recovered, it provides a valuation allowance against the excess. Interest and penalties associated with unrecognized tax benefits, if any, are classified as additional income taxes in the statement of operations. The current period net income will be offset against the prior periods net operating losses which were approximately $ 32 Reclassification Certain reclassifications may have been made to our prior year’s financial statements to conform to our current year presentation. These reclassifications had no effect on our previously reported results of operations or accumulated deficit. |
Related party transactions
Related party transactions | 6 Months Ended |
Jul. 31, 2022 | |
Related Party Transactions [Abstract] | |
Related party transactions | NOTE 4 – Related party transactions Our CEO, Brett Gross, was elected as President and Chief Executive Officer on December 7, 2018 and received no compensation for these services during the six months ended July 31, 2022 and 2021. Accrued Wages As of July 31, 2022, and January 31, 2022, we had a balance of accrued unpaid wages of $ 15,625 36,137 811,711 759,949 Advances During the six months ended July 31, 2022, the CEO advanced the Company $ 10,000 1,946 7,050 150 18,846 0 Other On April 22, 2022, the Company reached terms of settlement of the litigation Case No. C20194139, involving our former CEO, James Briscoe, previously filed in the Superior Court of Arizona. Effective April 22, 2022, the Company’s board of directors voted on, accepted and the settlement is now hereby approved, ratified, and confirmed (See Note 10). |
Stock options
Stock options | 6 Months Ended |
Jul. 31, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Stock options | NOTE 5 – Stock options Qualified and Non-qualified incentive stock options outstanding at July 31, 2022 are as follows: Schedule of Stock Option Activity Number of options Weighted average exercise price per share Outstanding, January 31, 2022 145,250 $ 2.97 Granted 158,760 12.76 Expired - - Exercised - - Outstanding, July 31, 2022 304,010 $ 8.08 Exercisable, July 31, 2022 304,010 $ 8.08 These options had a weighted average remaining life of 14.71 0 On April 22, 2022, the Company reached terms of settlement of the litigation Case No. C20194139, involving our former CEO, James Briscoe (see Note 10). As part of the terms of settlement, the Company will reinstate Mr. Briscoe’s stock options that expired following his resignation from the Board. This reinstatement will be on the same terms as originally issued, as evidenced in the August 10, 2010, Stock Option Agreement and October 11, 2016, Stock Option Agreement, each as adjusted for the February 25, 2021, reverse stock split, and pursuant to the Company’s 2010 Stock Option Plan, except for the option exercise window, which will be expanded to 30 years. A total of 118,760 105,000 19.00 13,760 1.50 44,706 On June 21, 2022, the Company entered into an agreement with an advisor to advise its executive management on strategic partnerships, investments, and other undertakings of material value to the Company. As compensation, the Company will grant the advisor monthly stock options of 20,000 40,000 0.24 0.30 8,039 3,177 4,861 |
Warrants
Warrants | 6 Months Ended |
Jul. 31, 2022 | |
Warrants | |
Warrants | NOTE 6 – Warrants As of July 31, 2022, there were 2,170,167 2.85 1.12 no Stock warrants outstanding at July 31, 2022 are as follows: Schedule of Stock Warrants Outstanding Number of warrants Weighted average exercise price per share Outstanding, January 31, 2022 2,164,167 $ 2.16 Issued 6,649 0.53 Expired - - Exercised - - Outstanding, July 31, 2022 2,170,816 $ 1.12 Exercisable, July 31, 2022 1,663,284 $ 0.85 As of May 18, 2022, the Company extended all warrants issued by the Company which expired or will expire during the year 2022. These warrants are extended for an additional three years. All other terms of the warrants remain unchanged, fully considering the reverse split effective on February 25, 2021 |
Derivative Liabilities
Derivative Liabilities | 6 Months Ended |
Jul. 31, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Liabilities | NOTE 7 – Derivative Liabilities The embedded conversion feature in the convertible debt instruments that the Company issued (See Note 8), that became convertible during the six months ended July 31, 2022, qualified it as a derivative instrument since the number of shares issuable under the note is indeterminate based on guidance in FASB ASC 815, Derivatives and Hedging. These convertible notes tainted all other equity linked instruments including outstanding warrants and fixed rate convertible debt on the date that the instrument became convertible. The valuation of the derivative liability of the warrants was determined through the use of a Monte Carlo options model that values the liability of the warrants based on a risk-neutral valuation where the price of the option is its discounted expected value. The technique applied generates a large number of possible (but random) price paths for the underlying common stock via simulation, and then calculates the associated exercise value (i.e. “payoff”) of the option for each path. These payoffs are then averaged and discounted to a current valuation date resulting in the fair value of the option. The valuation of the derivative liability attached to the convertible debt was arrived at through the use of a Monte Carlo model that values the derivative liability within the notes. The technique applied generates a large number of possible (but random) price paths for the underlying (or underlyings) via simulation, and then calculates the associated payment value (cash, stock, or warrants) of the derivative features. The price of the underlying common stock is modeled such that it follows a geometric Brownian motion with constant drift, and elastic volatility (increasing as stock price decreases). The stock price is determined by a random sampling from a normal distribution. Since the underlying random process is the same, for enough price paths, the value of the derivative is derived from path dependent scenarios and outcomes. The features in the notes that were analyzed and incorporated into the model included the conversion features with the reset provisions, the call/redemption/prepayment options, and the default provisions. Based on these features, there are six primary events that can occur; payments are made in cash; payments are made with stock; the note holder converts upon receiving a redemption notice; the note holder converts the note; the issuer redeems the note; or the Company defaults on the note. The model simulates the underlying economic factors that influenced which of these events would occur, when they were likely to occur, and the specific terms that would be in effect at the time (i.e. stock price, conversion price, etc.). Probabilities were assigned to each variable such as redemption likelihood, default likelihood, and timing and pricing of reset events over the remaining term of the notes based on management projections. This led to a cash flow simulation over the life of the note. A discounted cash flow for each simulation was completed, and it was compared to the discounted cash flow of the note without the embedded features, thus determining a value for the derivative liability. Key inputs and assumptions used to value the convertible note when it became convertible and upon settlement, and warrants upon tainting, were as follows: ● The stock projections are based on the historical volatilities for each date. These volatilities were in the 85.0 132.7 ● An event of default would not occur during the remaining term of the note; ● Conversion of the notes to stock would be completed monthly after any holding period and would be limited based on: 5% of the last 6 months average trading volume and the ownership limit identified in the contract assuming the underlying number of common shares increases at 1% per month ● The effective discount was determined based on the historical trading history of the Company based on the specific pricing mechanism in each note; ● The Company would not have funds available to redeem the notes during the remaining term of the convertible notes; ● Discount rates were based on risk free rates in effect based on the remaining term and date of each valuation and instrument. ● The Holder would exercise the warrant at maturity if the stock price was above the exercise price; ● The Holder would exercise the warrant after any holding period prior to maturity at target prices starting at 2 times the exercise price for the Warrants or higher subject to monthly limits of: 5% of the last 6 months average trading volume increasing by 1% per month and the ownership limit identified in the contract assuming the underlying number of common shares increases at 1% per month Using the results from the model, the Company recorded a derivative liability during the six months ended July 31, 2022 of $ 733,081 104,886 0 104,886 96,264 8,622 During the six months ended July 31, 2022, the Company recorded a reclassification from derivative liability to equity of $ 0 78,474 300,697 During the six months ended July 31,2021, the Company recorded a reclassification from derivative liability to equity of $ 0 281,361 76,990 The following table sets forth a reconciliation of changes in the fair value of the Company’s derivative liability: Schedule of Changes in Fair Value of Derivative Liabilities Six months ended July 31, 2022 2021 Beginning balance $ - $ - Total gain (300,697 ) (76,990 ) Settlements (78,474 ) (281,361 ) Additions recognized as debt discount 104,886 64,823 Additions due to tainted warrants 733,081 293,528 Ending balance $ 458,796 $ - Change in gain on fair value of derivative liability included in earnings relating to derivatives $ (300,697 ) $ (76,990 ) |
Long-term debt and convertible
Long-term debt and convertible promissory notes | 6 Months Ended |
Jul. 31, 2022 | |
Debt Disclosure [Abstract] | |
Long-term debt and convertible promissory notes | NOTE 8 – Long-term debt and convertible promissory notes Following is a summary of convertible promissory notes: Summary of Convertible Promissory Notes July 31, 2022 January 31, 2022 8 October 2021 October 2022 $ – $ 69,300 8 November 2021 November 2022 - 69,000 8 December 2021 December 2022 20,000 63,000 8 February 2022 February 2023 74,800 - 8 April 2022 April 2023 71,500 - 8 July 2022 July 2023 45,138 - Convertible note payable 211,438 201,300 Less debt discount (33,526 ) (20,178 ) Less current portion of convertible notes (177,912 ) (181,122 ) Long-term convertible notes payable $ - $ - On February 7, 2022, the Company entered into a convertible promissory note with 1800 Diagonal Lending (formerly known as Sixth Street Lending LLC) in the aggregate principal amount of $ 74,800 8 9,800 February 7, 2023 180 75 10 On April 25, 2022, the Company entered into a convertible promissory note with 1800 Diagonal Lending (formerly known as Sixth Street Lending LLC) in the aggregate principal amount of $ 71,500 8 8,000 April 25,2023 180 75 10 On July 14, 2022, the Company entered into a convertible promissory note with 1800 Diagonal Lending LLC in the aggregate principal amount of $ 45,138 8 10,138 July 14, 2023 180 75 10 During the six months ended July 31, 2022 and 2021, the Company recorded debt discounts of $ 66,328 64,823 29,438 6,000 61,602 73,551 Notes Payable On June 22, 2020, the Company received loan proceeds of $ 32,300 100 3.75 30 158 On February 16, 2021, the Company received loan proceeds of $ 32,497 1 5 32,497 354 In April 2022, the Company entered into a Premium Finance Agreement related to an insurance policy. The policy premiums total $ 33,400 one year policy period 24,750 2,871 10.45 As of July 31, 2022, the notes payable, net balance was $ 13,958 0 64,897 64,897 0 2,287 |
Stockholders_ deficit
Stockholders’ deficit | 6 Months Ended |
Jul. 31, 2022 | |
Equity [Abstract] | |
Stockholders’ deficit | NOTE 9 – Stockholders’ deficit Common Stock Our undesignated common shares are all of the same class, are voting and entitle stockholders to receive dividends as defined. Upon liquidation or wind-up, stockholders are entitled to participate equally with respect to any distribution of net assets or any dividends that may be declared. During the six months ended July 31, 2022, the Company issued a total of 684,199 181,300 4,720 0.1746 0.3207 On May 19, 2022, the Company sold 13,298 0.376 5,000 1 0.50 1,372 0.526 On July 31, 2022, the Company issued 26,738 5,000 0.187 On August 20, 2021, the Company executed a financing agreement for the purpose of drilling for the Red Rock Canyon Gold Project, in Cochise County, Arizona. The agreement allows for a $ 1,000,000 1,000,000 1,109,804 187,030 0.1685 On July 1, 2022, the Company entered into a stock compensation and subscription agreement with Dutchess Group LLC. Per the agreement, Dutchess Group will provide services to the Company and will be issued 500,000 500,000 160,000 |
Commitments and contingencies
Commitments and contingencies | 6 Months Ended |
Jul. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and contingencies | NOTE 10 – Commitments and contingencies We currently rent a storage space for $ 45 We are required to pay annual rentals for Liberty Star’s federal lode mining claims for the Tombstone project in the State of Arizona. The rental period begins at noon on September 1st through the following September 1st and rental payments are due by the first day of the rental period. The annual rentals are $ 165 The rentals due by September 1, 2022 We are required to pay annual rentals for our Arizona State Land Department Mineral Exploration Permits (“AZ MEP”) at our Tombstone Hay Mountain project in the State of Arizona. AZ MEP permits cost $500 per permit per year in non-refundable filing fees and are valid for 1 year and renewable for up to 5 years 2.00 1.00 10 20 15,793.24 29,355 Legal Matter On August 22, 2019 (and amended on December 23, 2019), the Company filed a complaint with the Superior Court of Arizona (Case No. C20194139), demanding the titles and possession of certain vehicles and equipment of the Company from our former CEO, as well as seeking recovery of damages from the former CEO in an amount of not less than $ 50,000 On February 18, 2020, our former CEO and his spouse (the “Counterclaimants”) filed a First Amended Answer: First Amended Complaint and Counterclaim with the Superior Court of Arizona seeking dismissal of the Company’s complaint and reimbursement of Counterclaimants’ On April 22, 2022, the Company reached terms of settlement of the litigation Case No. C20194139, involving our former CEO, James Briscoe, previously filed in the Superior Court of Arizona. Effective April 22, 2022, the Company’s board of directors voted on, accepted and the settlement is now hereby approved, ratified, and confirmed. A summary of the terms of that settlement is as follows: ● Mr. Briscoe dropped his demand for “accrued wages” (see Note 4). ● Mr. Briscoe dropped his claim for payment of his credit card debt (see Note 4). These balances were included in accounts payable and accrued liabilities on the consolidated balance sheet in prior period. ● Mr. Briscoe dropped all other claims and waives and releases all claims, known or unknown. ● Mr. Briscoe returned title and possession of all the vehicles that he previously transferred to his name. Mr. Briscoe to also return to the Company all Company property identified in our First Amended Complaint. ● The Company reinstated Mr. Briscoe’s stock options that expired following his resignation from the Board. This reinstatement was on the same terms as originally issued, as evidenced in the August 10, 2010, Stock Option Agreement and October 11, 2016, Stock Option Agreement, each as adjusted for the February 25, 2021, reverse stock split, and pursuant to the Company’s 2010 Stock Option Plan, except for the option exercise window, which was expanded to 30 years (see Note 5). ● The Company is paying Mr. Briscoe a sum of $ 29,627 ● Both parties agreed to a non-disparagement clause that expressly establishes prior consent to the Pima County Court’s jurisdiction for issuance of mandatory injunctive relief if an aggrieved Party reasonably believes this clause has been violated by the other Party whether such violation is done directly by the violating Party or via proxy. In connection with the settlement, we wrote off $ 1,072,667 29,677 44,706 998,284 |
Subsequent events
Subsequent events | 6 Months Ended |
Jul. 31, 2022 | |
Subsequent Events [Abstract] | |
Subsequent events | NOTE 11 – Subsequent events On August 5, 2022, the Company issued a total of 91,855 15,000 0.1633 On August 10, 2022, the Company issued a total of 45,603 5,000 2,000 0.1535 On August 12, 2022, the Company settled a $ 5,000 26,738 0.187 Each unit consists of 1 share of our common stock and 0.50 warrants 0.262 On August 19, 2022, the Company issued a total of 111,276 15,000 0.1348 On August 26, 2022, the Company issued a total of 159,109 20,000 0.1257 On August 29, 2022 (the “Record Date”), the Company’s Board of Directors unanimously approved, and recommended for shareholder approval, the Amendment in order to increase the number of authorized shares of the Company’s common stock to 74,800,000 the holders of all the issued and outstanding shares of our Class A Stock stockholders, representing approximately 56.41% of the stockholder voting power, approved the Amendment. On September 8, 2022, the Company issued a total of 168,776 20,000 0.1185 Subsequent to July 31, 2022, the CEO paid $ 2,500 14,446 1,900 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jul. 31, 2022 | |
Accounting Policies [Abstract] | |
Fair Value | Fair Value ASC 820 Fair Value Measurements and Disclosures (“ASC 820”), defines fair value, establishes a framework for measuring fair value and enhances disclosures about fair value measurements. It defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities that are not active; and model-driven valuations whose inputs are observable or whose significant value drivers are observable. Valuations may be obtained from, or corroborated by, third-party pricing services. Level 3: Unobservable inputs to measure fair value of assets and liabilities for which there is little, if any market activity at the measurement date, using reasonable inputs and assumptions based upon the best information at the time, to the extent that inputs are available without undue cost and effort. Schedule of Fair Value of Financial Instruments Fair value measurements at reporting date using: Description Fair Value Quoted prices in active markets for identical liabilities (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Warrant and convertible note derivative liability at July 31, 2022 $ 458,796 - - $ 458,796 Warrant and convertible note derivative liability at January 31, 2022 $ - - - $ - Our financial instruments consist of cash and cash equivalents, prepaid expenses, accounts payable, accrued liabilities, notes payable, convertible notes payable, and derivative liability. It is management’s opinion that we are not exposed to significant interest, currency or credit risks arising from these financial instruments. With the exception of the derivative liability, the fair value of these financial instruments approximates their carrying values based on their short maturities or for long-term debt based on borrowing rates currently available to us for loans with similar terms and maturities. Gains and losses recognized on changes in estimated fair value of the derivative liability are reported in other income (expense) as gain (loss) on change in fair value of derivative liability. |
Income Taxes | Income Taxes Income taxes are recorded using the asset and liability method. Under the asset and liability method, tax assets and liabilities are recognized for the tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Future tax assets and liabilities are measured using the enacted tax rates expected to apply when the asset is realized or the liability settled. The effect on future tax assets and liabilities of a change in tax rates is recognized in income in the period that enactment occurs. To the extent that the Company does not consider it more likely than not that a future tax asset will be recovered, it provides a valuation allowance against the excess. Interest and penalties associated with unrecognized tax benefits, if any, are classified as additional income taxes in the statement of operations. The current period net income will be offset against the prior periods net operating losses which were approximately $ 32 |
Reclassification | Reclassification Certain reclassifications may have been made to our prior year’s financial statements to conform to our current year presentation. These reclassifications had no effect on our previously reported results of operations or accumulated deficit. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jul. 31, 2022 | |
Accounting Policies [Abstract] | |
Schedule of Fair Value of Financial Instruments | Schedule of Fair Value of Financial Instruments Fair value measurements at reporting date using: Description Fair Value Quoted prices in active markets for identical liabilities (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Warrant and convertible note derivative liability at July 31, 2022 $ 458,796 - - $ 458,796 Warrant and convertible note derivative liability at January 31, 2022 $ - - - $ - |
Stock options (Tables)
Stock options (Tables) | 6 Months Ended |
Jul. 31, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Schedule of Stock Option Activity | Qualified and Non-qualified incentive stock options outstanding at July 31, 2022 are as follows: Schedule of Stock Option Activity Number of options Weighted average exercise price per share Outstanding, January 31, 2022 145,250 $ 2.97 Granted 158,760 12.76 Expired - - Exercised - - Outstanding, July 31, 2022 304,010 $ 8.08 Exercisable, July 31, 2022 304,010 $ 8.08 |
Warrants (Tables)
Warrants (Tables) | 6 Months Ended |
Jul. 31, 2022 | |
Warrants | |
Schedule of Stock Warrants Outstanding | Stock warrants outstanding at July 31, 2022 are as follows: Schedule of Stock Warrants Outstanding Number of warrants Weighted average exercise price per share Outstanding, January 31, 2022 2,164,167 $ 2.16 Issued 6,649 0.53 Expired - - Exercised - - Outstanding, July 31, 2022 2,170,816 $ 1.12 Exercisable, July 31, 2022 1,663,284 $ 0.85 |
Derivative Liabilities (Tables)
Derivative Liabilities (Tables) | 6 Months Ended |
Jul. 31, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Changes in Fair Value of Derivative Liabilities | The following table sets forth a reconciliation of changes in the fair value of the Company’s derivative liability: Schedule of Changes in Fair Value of Derivative Liabilities Six months ended July 31, 2022 2021 Beginning balance $ - $ - Total gain (300,697 ) (76,990 ) Settlements (78,474 ) (281,361 ) Additions recognized as debt discount 104,886 64,823 Additions due to tainted warrants 733,081 293,528 Ending balance $ 458,796 $ - Change in gain on fair value of derivative liability included in earnings relating to derivatives $ (300,697 ) $ (76,990 ) |
Long-term debt and convertibl_2
Long-term debt and convertible promissory notes (Tables) | 6 Months Ended |
Jul. 31, 2022 | |
Debt Disclosure [Abstract] | |
Summary of Convertible Promissory Notes | Following is a summary of convertible promissory notes: Summary of Convertible Promissory Notes July 31, 2022 January 31, 2022 8 October 2021 October 2022 $ – $ 69,300 8 November 2021 November 2022 - 69,000 8 December 2021 December 2022 20,000 63,000 8 February 2022 February 2023 74,800 - 8 April 2022 April 2023 71,500 - 8 July 2022 July 2023 45,138 - Convertible note payable 211,438 201,300 Less debt discount (33,526 ) (20,178 ) Less current portion of convertible notes (177,912 ) (181,122 ) Long-term convertible notes payable $ - $ - |
Schedule of Fair Value of Finan
Schedule of Fair Value of Financial Instruments (Details) - USD ($) | Jul. 31, 2022 | Jan. 31, 2022 |
Defined Benefit Plan Disclosure [Line Items] | ||
Warrant and convertible note derivative liability | $ 458,796 | |
Fair Value, Inputs, Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Warrant and convertible note derivative liability | ||
Fair Value, Inputs, Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Warrant and convertible note derivative liability | ||
Fair Value, Inputs, Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Warrant and convertible note derivative liability | $ 458,796 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jul. 31, 2022 | Jul. 31, 2021 | Jul. 31, 2022 | Jul. 31, 2021 | Jan. 31, 2022 | |
Accounting Policies [Abstract] | |||||
Net operating loss | $ (334,028) | $ (103,142) | $ (443,243) | $ (197,234) | $ 32,000,000 |
Related party transactions (Det
Related party transactions (Details Narrative) - USD ($) | 6 Months Ended | |||
Jul. 31, 2022 | Jun. 30, 2022 | Jul. 31, 2021 | Jan. 31, 2022 | |
Related Party Transaction [Line Items] | ||||
Employee related liabilities current | $ 51,762 | $ 811,711 | ||
Advances from related party | 18,846 | |||
Proceeds from related party debt | 17,050 | |||
Repayments of Related Party Debt | 150 | |||
CEO [Member] | ||||
Related Party Transaction [Line Items] | ||||
Advances from related party | 10,000 | |||
Proceeds from related party debt | 1,946 | |||
Board Members [Member] | ||||
Related Party Transaction [Line Items] | ||||
Proceeds from related party debt | $ 7,050 | |||
Repayments of Related Party Debt | $ 150 | |||
Former President [Member] | ||||
Related Party Transaction [Line Items] | ||||
Employee related liabilities current | 15,625 | 15,625 | ||
Patricia Madaris [Member] | ||||
Related Party Transaction [Line Items] | ||||
Employee related liabilities current | $ 36,137 | 36,137 | ||
Former CEO [Member] | ||||
Related Party Transaction [Line Items] | ||||
Employee related liabilities current | 759,949 | |||
James Briscoe [Member] | ||||
Related Party Transaction [Line Items] | ||||
Employee related liabilities current | $ 759,949 |
Schedule of Stock Option Activi
Schedule of Stock Option Activity (Details) | 6 Months Ended |
Jul. 31, 2022 $ / shares shares | |
Share-Based Payment Arrangement [Abstract] | |
Number of options, outstanding | shares | 145,250 |
Weighted average exercise price per share, outstanding | $ / shares | $ 2.97 |
Number of options, granted | shares | 158,760 |
Weighted average exercise price per share, granted | $ / shares | $ 12.76 |
Number of options, expired | shares | |
Weighted average exercise price per share, expired | $ / shares | |
Number of options, exercised | shares | |
Weighted average exercise price per share, exercised | $ / shares | |
Number of options, outstanding | shares | 304,010 |
Weighted average exercise price per share, outstanding | $ / shares | $ 8.08 |
Number of options, exercisable | shares | 304,010 |
Weighted average exercise price per share, exercisable | $ / shares | $ 8.08 |
Stock options (Details Narrativ
Stock options (Details Narrative) - USD ($) | 6 Months Ended | |||
Jun. 21, 2022 | Apr. 22, 2022 | Jul. 31, 2022 | Jan. 31, 2022 | |
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||||
Weighted average remaining life, terms | 14 years 8 months 15 days | |||
Weighted average, intrinsic value | $ 0 | |||
Options exercise price | $ 12.76 | |||
Stock options | 304,010 | 145,250 | ||
Mr. Briscoe [Member] | ||||
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||||
Stock options, granted | 118,760 | |||
Mr. Briscoe [Member] | Exercise Price $19.00 [Member] | ||||
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||||
Stock options, granted | 105,000 | |||
Options exercise price | $ 19 | |||
Mr. Briscoe [Member] | Exercise Price $1.50 [Member] | ||||
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||||
Stock options, granted | 13,760 | |||
Options exercise price | $ 1.50 | |||
Fair value | $ 44,706 | |||
Advisor [Member] | ||||
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||||
Fair value | $ 8,039 | |||
Stock options | 20,000 | |||
Share based compensation | $ 3,177 | |||
Unrecognized share based compensation | $ 4,861 | |||
Advisor [Member] | Minimum [Member] | ||||
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||||
Exercise price | $ 0.24 | |||
Advisor [Member] | Maximum [Member] | ||||
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||||
Exercise price | $ 0.30 | |||
Consultants [Member] | ||||
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||||
Stock options, granted | 40,000 |
Schedule of Stock Warrants Outs
Schedule of Stock Warrants Outstanding (Details) - Warrant [Member] | 6 Months Ended |
Jul. 31, 2022 $ / shares shares | |
Number of warrants, Outstanding | shares | 2,164,167 |
Weighted average exercise price, Outstanding | $ / shares | $ 2.16 |
Number of warrants, Issued | shares | 6,649 |
Weighted average exercise price, Issued | $ / shares | $ 0.53 |
Number of warrants, Expired | shares | |
Weighted average exercise price, Expired | $ / shares | |
Number of warrants, Exercised | shares | |
Weighted average exercise price, Exercised | $ / shares | |
Number of warrants, Outstanding | shares | 2,170,816 |
Weighted average exercise price, Outstanding | $ / shares | $ 1.12 |
Number of warrants, Exercisable | shares | 1,663,284 |
Weighted average exercise price, Exercisable | $ / shares | $ 0.85 |
Warrants (Details Narrative)
Warrants (Details Narrative) - USD ($) | 6 Months Ended | |
May 18, 2022 | Jul. 31, 2022 | |
Warrants | ||
Share purchase warrants exercisable | 2,170,167 | |
Warrants weighted average remaining life | 2 years 10 months 6 days | |
Weighted average exercise price of warrant | $ 1.12 | |
Weighted average intrinsic value for warrants outstanding | $ 0 | |
Warrants expiration extend, description | the Company extended all warrants issued by the Company which expired or will expire during the year 2022. These warrants are extended for an additional three years. All other terms of the warrants remain unchanged, fully considering the reverse split effective on February 25, 2021 |
Schedule of Changes in Fair Val
Schedule of Changes in Fair Value of Derivative Liabilities (Details) - USD ($) | 6 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Beginning balance | ||
Total (gain) loss | (300,697) | (76,990) |
Settlements | (78,474) | (281,361) |
Additions recognized as debt discount | 104,886 | 64,823 |
Additions due to tainted warrants | 733,081 | 293,528 |
Ending balance | 458,796 | |
Change in unrealized (gain) loss included in earnings relating to derivatives | $ (300,697) | $ (76,990) |
Derivative Liabilities (Details
Derivative Liabilities (Details Narrative) | 6 Months Ended | ||
Jul. 31, 2022 USD ($) | Jul. 31, 2021 USD ($) | Jan. 31, 2022 USD ($) | |
Derivative [Line Items] | |||
Derivative liabilities | $ 458,796 | ||
Amortization of debt discount | 61,602 | $ 73,551 | |
Gain on derivative liability | 300,697 | 76,990 | |
Convertible Debt [Member] | |||
Derivative [Line Items] | |||
Amortization of debt discount | $ 66,328 | 64,823 | |
Derivative Liability [Member] | |||
Derivative [Line Items] | |||
Conversion note, description | Conversion of the notes to stock would be completed monthly after any holding period and would be limited based on: 5% of the last 6 months average trading volume and the ownership limit identified in the contract assuming the underlying number of common shares increases at 1% per month | ||
Percentage of exercise price for warrant, description | The Holder would exercise the warrant after any holding period prior to maturity at target prices starting at 2 times the exercise price for the Warrants or higher subject to monthly limits of: 5% of the last 6 months average trading volume increasing by 1% per month and the ownership limit identified in the contract assuming the underlying number of common shares increases at 1% per month | ||
Derivative loss | $ 0 | ||
Amortization of debt discount | 104,886 | ||
Interest expense | 96,264 | ||
Unamortized debt discount | 8,622 | ||
Reclassification of derivative liability to equity | 0 | 0 | |
Reclassification due to conversion of convertible notes | 78,474 | $ 281,361 | |
Derivative Liability [Member] | Convertible Debt [Member] | |||
Derivative [Line Items] | |||
Derivative liabilities | 104,886 | ||
Derivative Liability [Member] | Warrant [Member] | |||
Derivative [Line Items] | |||
Derivative liabilities | $ 733,081 | ||
Minimum [Member] | Measurement Input, Price Volatility [Member] | |||
Derivative [Line Items] | |||
Fair value assumptions, measurement input, percentages | 0.850 | ||
Maximum [Member] | Measurement Input, Price Volatility [Member] | |||
Derivative [Line Items] | |||
Fair value assumptions, measurement input, percentages | 1.327 |
Summary of Convertible Promisso
Summary of Convertible Promissory Notes (Details) - USD ($) | Jul. 31, 2022 | Jan. 31, 2022 |
Debt Instrument [Line Items] | ||
Convertible note payable | $ 211,438 | $ 201,300 |
Less debt discount | (33,526) | (20,178) |
Less current portion of convertible notes | (177,912) | (181,122) |
Long-term convertible notes payable | ||
Convertible Debt One [Member] | ||
Debt Instrument [Line Items] | ||
Convertible note payable | 69,300 | |
Convertible Debt Two [Member] | ||
Debt Instrument [Line Items] | ||
Convertible note payable | 69,000 | |
Convertible Debt Three [Member] | ||
Debt Instrument [Line Items] | ||
Convertible note payable | 20,000 | 63,000 |
Convertible Debt Four [Member] | ||
Debt Instrument [Line Items] | ||
Convertible note payable | 74,800 | |
Convertible Debt Five [Member] | ||
Debt Instrument [Line Items] | ||
Convertible note payable | 71,500 | |
Convertible Debt Six [Member] | ||
Debt Instrument [Line Items] | ||
Convertible note payable | $ 45,138 |
Summary of Convertible Promis_2
Summary of Convertible Promissory Notes (Details) (Parenthetical) | 6 Months Ended |
Jul. 31, 2022 | |
Convertible Debt One [Member] | |
Debt Instrument [Line Items] | |
Convertible notes payable, interest rate | 8% |
Debt issuance date | 2021-10 |
Debt maturity date | 2022-10 |
Convertible Debt Two [Member] | |
Debt Instrument [Line Items] | |
Convertible notes payable, interest rate | 8% |
Debt issuance date | 2021-11 |
Debt maturity date | 2022-11 |
Convertible Debt Three [Member] | |
Debt Instrument [Line Items] | |
Convertible notes payable, interest rate | 8% |
Debt issuance date | 2021-12 |
Debt maturity date | 2022-12 |
Convertible Debt Four [Member] | |
Debt Instrument [Line Items] | |
Convertible notes payable, interest rate | 8% |
Debt issuance date | 2022-02 |
Debt maturity date | 2023-02 |
Convertible Debt Five [Member] | |
Debt Instrument [Line Items] | |
Convertible notes payable, interest rate | 8% |
Debt issuance date | 2022-04 |
Debt maturity date | 2023-04 |
Convertible Debt Six [Member] | |
Debt Instrument [Line Items] | |
Convertible notes payable, interest rate | 8% |
Debt issuance date | 2022-07 |
Debt maturity date | 2023-07 |
Long-term debt and convertibl_3
Long-term debt and convertible promissory notes (Details Narrative) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||||||||
Jul. 14, 2022 USD ($) Integer | Apr. 25, 2022 USD ($) Integer | Feb. 07, 2022 USD ($) Integer | Feb. 16, 2021 USD ($) | Jun. 22, 2020 USD ($) | Apr. 30, 2022 USD ($) | Jan. 31, 2022 USD ($) | Jul. 31, 2022 USD ($) | Jul. 31, 2021 USD ($) | Jul. 31, 2022 USD ($) | Jul. 31, 2021 USD ($) | |
Short-Term Debt [Line Items] | |||||||||||
Amortization | $ 61,602 | $ 73,551 | |||||||||
Gain on forgiveness of loan | 32,851 | ||||||||||
Notes payable | $ 64,897 | 13,958 | 13,958 | ||||||||
Accrued interest | 2,287 | 0 | |||||||||
Long term notes payable | 64,897 | 32,400 | 32,400 | ||||||||
Notes payables, current | 13,958 | 13,958 | |||||||||
SBA's Economic Injury Disaster Loan Program [Member] | |||||||||||
Short-Term Debt [Line Items] | |||||||||||
Proceeds from loans originations | $ 32,300 | ||||||||||
Fee amount | $ 100 | ||||||||||
Line of credit facility interest rate during period | 3.75% | ||||||||||
Debt instrument term | 30 years | ||||||||||
Debt instrument periodic payment | $ 158 | ||||||||||
PPP Loan [Member] | |||||||||||
Short-Term Debt [Line Items] | |||||||||||
Proceeds from loans originations | $ 32,497 | ||||||||||
Line of credit facility interest rate during period | 1% | ||||||||||
Debt instrument term | 5 years | ||||||||||
Gain on forgiveness of loan | $ 32,497 | ||||||||||
Interest and debt expense | $ 354 | ||||||||||
Premium Finance Agreement [Member] | |||||||||||
Short-Term Debt [Line Items] | |||||||||||
Interest rate, percentage | 10.45% | ||||||||||
Debt instrument periodic payment | $ 2,871 | ||||||||||
Insurance policy premiums | $ 33,400 | ||||||||||
Insurance policy premiums description | one year policy period | ||||||||||
Insurance financed | $ 24,750 | ||||||||||
Convertible Debt [Member] | |||||||||||
Short-Term Debt [Line Items] | |||||||||||
Debt instrument unamortized discount | $ 29,438 | $ 6,000 | 29,438 | 6,000 | |||||||
February 2022 Note [Member] | |||||||||||
Short-Term Debt [Line Items] | |||||||||||
Face amount | $ 74,800 | ||||||||||
Interest rate, percentage | 8% | ||||||||||
Debt instrument unamortized discount | $ 9,800 | ||||||||||
Maturity date | Feb. 07, 2023 | ||||||||||
Debt instrument, convertible threshold days | Integer | 180 | ||||||||||
Debt instrument convertible threshold percentage | 75% | ||||||||||
Debt instrument, convertible threshold days | Integer | 10 | ||||||||||
April 2022 Note [Member] | |||||||||||
Short-Term Debt [Line Items] | |||||||||||
Face amount | $ 71,500 | ||||||||||
Interest rate, percentage | 8% | ||||||||||
Debt instrument unamortized discount | $ 8,000 | ||||||||||
Maturity date | Apr. 25, 2023 | ||||||||||
Debt instrument, convertible threshold days | Integer | 180 | ||||||||||
Debt instrument convertible threshold percentage | 75% | ||||||||||
Debt instrument, convertible threshold days | Integer | 10 | ||||||||||
July 2022 [Member] | |||||||||||
Short-Term Debt [Line Items] | |||||||||||
Face amount | $ 45,138 | ||||||||||
Interest rate, percentage | 8% | ||||||||||
Debt instrument unamortized discount | $ 10,138 | ||||||||||
Maturity date | Jul. 14, 2023 | ||||||||||
Debt instrument, convertible threshold days | Integer | 180 | ||||||||||
Debt instrument convertible threshold percentage | 75% | ||||||||||
Debt instrument, convertible threshold days | Integer | 10 | ||||||||||
Convertible Debt [Member] | |||||||||||
Short-Term Debt [Line Items] | |||||||||||
Amortization | $ 66,328 | $ 64,823 |
Stockholders_ deficit (Details
Stockholders’ deficit (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||||||
Jul. 31, 2022 | Jul. 07, 2022 | Jul. 01, 2022 | May 19, 2022 | May 19, 2022 | Jul. 31, 2022 | Apr. 30, 2022 | Jul. 31, 2021 | Apr. 30, 2021 | Jul. 31, 2022 | Jun. 30, 2022 | Aug. 20, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||
Interest payable | $ 4,720 | |||||||||||
Fair value of warrants | $ 1,372 | |||||||||||
Share issued price per share | $ 0.526 | $ 0.526 | ||||||||||
Investor [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||
Sale of stock price per share | 13,298 | |||||||||||
Sale of stock price per share | $ 0.376 | $ 0.376 | ||||||||||
Sale of stock consideration received on transaction | $ 5,000 | |||||||||||
Minimum [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||
Conversion price | $ 0.1746 | $ 0.1746 | $ 0.1746 | |||||||||
Maximum [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||
Conversion price | 0.3207 | $ 0.3207 | $ 0.3207 | |||||||||
Common Stock [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||
Company issued common stock for conversions | 539,895 | 144,304 | 98,472 | 33,881 | 684,199 | |||||||
Company issued value common stock for conversions | $ 181,300 | |||||||||||
Share issued price per share | $ 0.1685 | |||||||||||
Stock issued during period shares new issued | 1,109,804 | |||||||||||
Stock issued during period value new issued | $ 187,030 | |||||||||||
Common Stock [Member] | Subscription Agreement [Member] | Dutchess Group LLC [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||
Stock issued during period shares new issued | 500,000 | 500,000 | ||||||||||
Stock issued during period value new issued | $ 160,000 | |||||||||||
Common Stock [Member] | Triton Funds LP [Member] | Purchase Agreement [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||
Stock available for purchase to related party | $ 1,000,000 | |||||||||||
Common Stock [Member] | Triton Funds LP [Member] | Warrant Agreement [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||
Stock available for purchase to related party | $ 1,000,000 | |||||||||||
Common Stock [Member] | Investor [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||
Sale of stock price per share | 1 | |||||||||||
Share issued price per share | $ 0.187 | $ 0.187 | $ 0.187 | |||||||||
Stock issued during period shares new issued | 26,738 | |||||||||||
Stock issued during period value new issued | $ 5,000 | |||||||||||
Warrant [Member] | Investor [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||
Sale of stock price per share | 0.50 |
Commitments and contingencies (
Commitments and contingencies (Details Narrative) | 3 Months Ended | 6 Months Ended | ||
Apr. 22, 2022 USD ($) | Aug. 22, 2019 USD ($) | Apr. 30, 2022 USD ($) | Jul. 31, 2022 USD ($) a $ / shares | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Rental payments | $ 165 | |||
Lease due date | Sep. 01, 2022 | |||
Written off liabilities | $ 1,072,667 | |||
Debt current | 29,677 | |||
Adjustment of additional paid in capital share based compensation | $ 44,706 | 44,706 | ||
Settlement of debt | $ 998,284 | |||
Former Chief Executive Officer [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Loss contingency damages sought value | $ 50,000 | |||
James Briscoe [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Periodic payment | $ 29,627 | |||
AZ MEP [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Project validity description | AZ MEP permits cost $500 per permit per year in non-refundable filing fees and are valid for 1 year and renewable for up to 5 years | |||
AZ MEP [Member] | Phase 1 [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Minimum work expenditure requirements | $ 29,355 | |||
AZ MEP [Member] | First Year [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Rental fee per acre | $ / shares | $ 2 | |||
Minimum work expenditure requirements | $ 10 | |||
AZ MEP [Member] | Three Through Five Year [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Rental fee per acre | $ / shares | $ 1 | |||
Minimum work expenditure requirements | $ 20 | |||
AZ MEP [Member] | Second Year [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Minimum work expenditure requirements | $ 10 | |||
Tombstone Project [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Project validity description | The rentals due by September 1, 2022 for the period from September 1, 2022 through September 1, 2023 of $15,345 have not been paid yet, but we plan to pay when due | |||
Area of land | a | 15,793.24 | |||
Tombstone Region of Arizona [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Rental payments | $ 45 |
Subsequent events (Details Narr
Subsequent events (Details Narrative) - USD ($) | 2 Months Ended | 3 Months Ended | 6 Months Ended | ||||||||||||
Sep. 08, 2022 | Aug. 29, 2022 | Aug. 26, 2022 | Aug. 19, 2022 | Aug. 12, 2022 | Aug. 10, 2022 | Aug. 05, 2022 | Sep. 19, 2022 | Jul. 31, 2022 | Apr. 30, 2022 | Jul. 31, 2021 | Apr. 30, 2021 | Jul. 31, 2022 | Jul. 31, 2021 | May 19, 2022 | |
Subsequent Event [Line Items] | |||||||||||||||
Conversion of convertible securities, value | $ 141,020 | $ 45,000 | $ 69,900 | $ 27,000 | |||||||||||
Share issued price per share | $ 0.526 | ||||||||||||||
Proceeds from related party debt | $ 17,050 | ||||||||||||||
Repayments of related party debt | 150 | ||||||||||||||
CEO [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Proceeds from related party debt | $ 1,946 | ||||||||||||||
Subsequent Event [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Conversion of convertible securities, shares | 168,776 | 159,109 | 111,276 | 45,603 | 91,855 | ||||||||||
Conversion of convertible securities, value | $ 20,000 | $ 20,000 | $ 15,000 | $ 5,000 | $ 15,000 | ||||||||||
Conversion price per share | $ 0.1185 | $ 0.1257 | $ 0.1348 | $ 0.1535 | $ 0.1633 | ||||||||||
Accrued interest | $ 2,000 | ||||||||||||||
Share issued price per share | $ 0.262 | ||||||||||||||
Sale of stock, description | Each unit consists of 1 share of our common stock and 0.50 warrants | ||||||||||||||
Number of shares authorized | 74,800,000 | ||||||||||||||
Voting rights, description | the holders of all the issued and outstanding shares of our Class A Stock stockholders, representing approximately 56.41% of the stockholder voting power, approved the Amendment. | ||||||||||||||
Repayments of related party debt | $ 14,446 | ||||||||||||||
Advance repayment of related parties | 1,900 | ||||||||||||||
Subsequent Event [Member] | CEO [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Proceeds from related party debt | $ 2,500 | ||||||||||||||
Subsequent Event [Member] | Related Party [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Stock issued during period value new issued | $ 5,000 | ||||||||||||||
Stock issued during period shares new issued | 26,738 | ||||||||||||||
Share issued price per share | $ 0.187 |