Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Share Capital

Share Capital
12 Months Ended
Jan. 31, 2021
Disclosure of classes of share capital [abstract]  
Share Capital
25 Share Capital


    31 January 2021

31 January 2020


446,582,604 (2020: 4,697,204) Ordinary shares     338,498       170,193  


  (a) Ordinary shares


    For the Year Ended 31 January 2021

For the Year Ended 31 January 2020


At the beginning of the reporting period     170,193       134,183  
Issuance of new shares                
- Cash collected from sale of new share issuances and cash exercise of warrants     93,693       12,586  
- Shares issued in lieu of agreed settlement     5,503       -  
- Conversion of debt     1,689       -  
- Shares issued in lieu of inventory payment     -       15, 525  
- Shares issued in lieu of related party loan     -       1,546  
- Convertible notes converted to equity     67,420       5,979  
Warrants issued     -       374  
At the end of the reporting period     338,498       170,193  


The holders of ordinary shares are entitled to participate in dividends and the proceeds on winding up of the Group. On a show of hands at meetings of the Group, each holder of ordinary shares has one vote in person or by proxy, and upon a poll each share is entitled to one vote.


On 20 December 2019 the company executed a 1-100 reverse share split reducing the number of shares.


The Group does not have authorised capital or par value in respect of its shares.


  (b) Capital Management


The key objectives of the Group when managing capital is to safeguard its ability to continue as a going concern and maintain optimal benefits to stakeholders. Management also aims to maintain a capital structure that ensures the lowest cost of capital available to the entity. The Group defines capital as its equity and net debt.


There has been no change to capital risk management policies during the year.


Management are constantly adjusting the capital structure to take advantage of favourable costs of capital or high return on assets. As the market is constantly changing, management may change the amount of dividends to be paid to shareholders, return capital to shareholders or sell assets to reduce debt. The Group is not subject to any externally imposed capital requirements.


The gearing ratio for the years ended 31 January 2021 and 31 January 2020 are as follows:


    Note     31 January 2021

31 January 2020


Total borrowings     22       17,495       38,913  
Less Cash and cash equivalents     15       (90,925 )     (3,791 )
Net cash)/ net debt             (73,430 )     35,122  
Equity             89,191       (6,284 )
Total capital             15,788       28,838  
Gearing ratio             20 %     (619 )%


  (b) Warrants


The following warrants were outstanding as at 31 January 2021 (31 January 2020: 610,122).


Average Exercise Price (USD)     Issue Date   Expiry Date   No. of warrants  
      Mar-19   Mar-21     42,285  
      Mar-19   Mar-23     14,000  
$0.01 - $0.50     Apr-19   Apr-22     500  
      May-19   May-21     10,000  
      Jul-19   May-25     170,100  
      Aug-19   Feb-25     285,714  
      Aug-19   Aug-24     22,857  
$1.51 - $2.00     Nov-17   Nov-21     2,000  
      Oct-18   Oct-21     20,000  
$2.01 - $4.00     Jun-18   Jun-23     8,000  
      Mar-19   Mar-21     3,922  
$4.01+     May-18   May-21     2,816  
Total number of outstanding warrants as at 31 January 2021     582,194