CAPITAL STOCK [Text Block] |
|
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. 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
|
|
|
|
|
|
45,575,907
Common shares
|
|
|
|
|
c) |
Changes to Issued Share Capital
|
|
|
|
|
|
Nine- months ended August 31, 2013
|
|
|
|
|
|
During the six month period ended May 31, 2013 the Company issued
1,801,480
common shares for conversion of convertible debentures having face value of $500,000
and accrued interest of $40,444. The total debt for $540,444
was converted into
1,801,480
common shares at $0.30
per share.
|
|
|
|
|
|
On August 15, 2013, the Company filed an amended and restated final prospectus (the “Prospectus”) in Canada, in the provinces of Alberta, British Columbia and Ontario to list its common shares (“Common Shares”) on the TSXV.
|
|
|
|
|
|
On August 27, 2013, the Company completed an initial public offering to raise gross proceeds of $3,794,280
(CAD $3,993,980) through the issuance of
9,984,950
Common Shares at a price of $0.38
(CAD$0.40) per Common Share (the “Issue Price”). The company incurred expenses of $734,565
to raise the capital which included a fee of CAD $80,000
paid to a former director and CEO in accordance with the terms of an agreement regarding escrow of shares and a cash commission of CAD$359,458
paid to the Agent. In addition the Company granted an option (the “Agent’s Option”) to purchase up to
898,645
Common Shares to the Agent and members of its selling group. The Agent’s Option entitles the Agent and members of its selling group to purchase Common Shares at a price of CAD$0.40
(US $0.38) per Common Share until August 27, 2015.
|
|
|
|
|
|
Upon completion of the Offering, $700,000
face value of convertible debentures along with $97,716
of interest was converted to
2,297,044
Common Shares, resulting in the discharge of those debentures.
|
|
|
|
|
|
Year ended November 30, 2012
|
|
|
|
|
|
During the three month period ended August 31, 2012, the Company issued
1,484,169
common shares for conversion of convertible debentures having face value of $411,828
(Convertible debenture 2) and accrued interest of $33,423. The total debt for $445,251
was converted into
1,484,169
common shares at $0.30
per share.
|
|
|
|
|
|
During the three month period ended August 31, 2012, the Company issued
1,333,333
shares of common stock to private investors at a price of $0.30
per share for a total consideration of $400,000. The shares of common stock are restricted securities, as that term is defined in Rule 144 of the Securities and Exchange Commission. The Company relied upon the exemption provided by Section 4(2) of the Securities Act of 1933 in connection with the sale of these securities.
|
|
|
|
|
|
During the three month period ended November 30, 2012, the Company issued
994,380
common shares for conversion of convertible debentures having a face value of $146,500
(Convertible debenture 1) and accrued interest of $23,076. The total debt for $169,576
was converted into
994,380
common shares.
|
|
|
|
|
|
During the three month period ended November 30, 2012, the Company issued
832,501
shares of common stock to private investors at a price of $0.30
per share for a total consideration of $249,750. The shares of common stock are restricted securities, as that term is defined in Rule 144 of the Securities and Exchange Commission. The Company relied upon the exemption provided by Section 4(2) of the Securities Act of 1933 in connection with the sale of these securities.
|
|