CAPITAL STOCK |
6 Months Ended | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
May. 31, 2015 | |||||||||||||||
| CAPITAL STOCK [Text Block] |
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.
46,899,285 Common shares (2014: 46,899,285 Common shares)
Year ended November 30, 2014 On July 17, 2014, the Company issued 50,000 shares on exercise of options at $0.25 per share. Six- months ended May 31, 2015 The Company did not issue any shares during the six month period ended May 31, 2015.
On May 29, 2015, the Company accepted $2,500,000 subscription for 7,575,757 common stock at a price of $0.33 (CAD $0.41) per share on a non-brokered private placement basis. There were no broker commissions or fees associated with this subscription. The closing of the private placement is subject to approval of the new insider by the TSX-Venture Exchange, as required under stock exchange rules. Subsequent to the quarter, the Company received approval from the TSX-Venture exchange (see note 13) Effective October 30, 2006 the Company adopted the following stock option and stock bonus plans which were replaced by the Incentive Stock Option Plan (the “2013 Plan”) that was issued in May, 2013. |