v3.21.4
STOCKHOLDERS’ EQUITY
 6 Months Ended
Nov. 30, 2021
Equity [Abstract]  
STOCKHOLDERS’ EQUITY

 

8. STOCKHOLDERS’ EQUITY

 

Common Stock

 

On June 28, 2021, a noteholder converted $71,855.20 in convertible notes (principal and interest) into 40,000,000 shares of the Company’s common stock at a rate of $0.00179638 per share.

 

On July 8, 2021, a noteholder converted $15,620.83 in convertible notes (principal and interest) into 8,695,727 shares of the Company’s common stock at a rate of $0.00179638 per share.

 

On August 3, 2021, a noteholder converted $24,418.89 in convertible notes (principal and interest) into 13,593,388 shares of the Company’s common stock at a rate of $0.00179638 per share.

 

On August 9, 2021, a noteholder converted $12,820.83 in convertible notes (principal and interest) into 7,137,037 shares of the Company’s common stock at a rate of $0.00179638 per share.

 

 

On September 28, 2021, a noteholder converted $53,054.86 in convertible notes (principal and interest) into 29,534,319 shares of the Company’s common stock at a rate of $0.00179638 per share.

 

On October 27, 2021, a noteholder converted $41,317 in convertible notes (principal and interest) into 23,000,000 shares of the Company’s common stock at a rate of $0.00179638 per share.

 

Preferred Shares

 

Series B Convertible Preferred

 

On August 13, 2021, Unique Logistics International, Inc. (the “Company”) issued 125,692,224 shares of the Company’s common stock (the “Preferred Conversion Shares”) pursuant to the conversion of 19,200 shares of Series B Convertible Preferred Stock held by Frangipani Trade Services Inc, an entity 100% owned by the Company’s Chief Executive Officer.

 

Warrants

 

The following is a summary of the Company’s warrant activity:

 

          Weighted Average  
    Warrants     Exercise Price  
Outstanding – May 31, 2021     1,140,956,904     $ 0.002  
Exercisable – May 31, 2021     1,140,956,904     $ 0.002  
Granted     -     $ -  
Outstanding – November 30, 2021     1,140,956,904     $ 0.002  
Exercisable – November 30, 2021     1,140,956,904     $ 0.002  

 

 

Warrants Outstanding     Warrants Exercisable  

Exercise

Price

    

Number

Outstanding

    

Weighted

Average

Remaining

Contractual

Life (in years)

    

Weighted

Average

Exercise

Price

    

Number

Exercisable

    

Weighted

Average

Exercise

Price

  
$ 0.002       1,140,956,904       3.85     $ 0.002       1,140,956,904     $ 0.002  

 

On November 30, 2021, the total intrinsic value of warrants outstanding and exercisable was $18,088,731.