Quarterly report pursuant to Section 13 or 15(d)

CAPITAL STOCK

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CAPITAL STOCK
 6 Months Ended
May 31, 2017
CAPITAL STOCK [Text Block]
4.

CAPITAL STOCK

  a)

Authorized
     
   

100,000,000 * Common shares, $0.001 par value

     
   

And
     
   

5,000,000 Preferred shares, $0.001 par value

     
   

*On March 20, 2013 the Company filed with the Secretary of the State of Delaware a certificate of amendment (the “Amendment”) to the Company’s certificate of incorporation. The Amendment increased the number of authorized shares of the Company’s common stock, par value $0.001, from 50,000,000 to 100,000,000 common shares.

     
   

The Company’s Articles of Incorporation authorize its Board of Directors to issue up to 5,000,000 shares of preferred stock having par value of $0.001. The provisions in the Articles of Incorporation relating to the preferred stock allow the directors to issue preferred stock with multiple votes per share and dividend rights, which would have priority over any dividends paid with respect to the holders of SDI’s common stock.

     
  b)

Issued
     
   

56,732,099 Common shares (November 30, 2016: 55,104,493 Common shares)

   
 

c)        Changes to Issued Share Capital
 

 
 

Year ended November 30, 2016

 

 
 

Effective July 21, 2016, Bryan Ganz was elected as a director of the Company. Prior to his appointment, effective May 1, 2016, the Company executed a one-year consulting agreement with a Corporation in which the said director has an ownership interest. For the consultant services, the consultant was paid cash for $50,000 and issued a value of $200,000 in Company’s stock in four quarterly instalments over the 12 -month period ending May 15, 2017. In September 2016, the Company issued 488,851 common stock to the consultant being the first quarterly instalment for a value of $50,000 which was due August 15, 2016.

 

 
 

Six- months ended May 31, 2017

 

 
 

In January 2017, the Company made the second share issuance to Northeast Industrial Partners under the consulting agreement announced on June 20, 2016. The Company issued 589,414 common shares at a deemed price of $0.1142 per share to satisfy the payment of USD $50,000 due on November 15, 2016. The issuance of shares to Northeast Industrial Partners is the second of four such issuances to occur over the period ending May 15, 2017.

 

 
 

In March 2017, the Company made the third share issuance to Northeast Industrial Partners under the consulting agreement announced on June 20, 2016. The Company issued 503,251 common shares at a deemed price of $0.0994 per share to satisfy the payment of USD $50,000 due on February 15, 2017. The issuance of shares to Northeast Industrial Partners is the third of four such issuances to occur over the period ending May 15, 2017.

 

 
 

In May 2017, the Company made the fourth and final share issuance to Northeast Industrial Partners under the consulting agreement announced on June 20, 2016. The Company issued 534,941 common shares at a deemed price of $0.0935 per share to satisfy the payment of USD $50,000 due on May 15, 2017. The issuance of shares to Northeast Industrial Partners is the fourth and final of four such issuances to occur over the period ending May 15, 2017.