Common Stock

12 Months Ended

Feb. 28, 2021

Note 7 - Common Stock

Common Stock

On August 24, 2015, the Company approved its subscription agreements with its founding stockholders, according to which the Company issued 6,000,000 shares of Common Stock for no monetary consideration. During 2016, the Company repurchased 2,481,567 shares from one of its founders. In July 2020, as part of a confidential settlement and release agreement with a former shareholder of the Company, the shareholder forfeited 518,433 shares, and the Company agreed to pay $1 million and 3,000,000 SCRT tokens. Currently there are 3,195,652 shares issued and outstanding.

	February 28,		February 29,
	2021		2020
Shares, par value $0.0001 per share:
Common Stock Outstanding		3,195,652		3,714,085
Common Stock Authorized		10,000,000		10,000,000

Under the Company’s 2016 Stock Plan, the Company is authorized to issue 776,503 options to purchase shares of common stock. The awards may be granted to our officers, outside directors, employees and consultants or the officers, directors, employees and consultants of the subsidiaries. There are currently no outstanding options.

Enigma MPC 10-K