Defense Technologies International Corp (DTII)

[Poco Parvenu]

10Q out:

Reduced debt:

As of July 31, 2022 and April 30, 2022, the Company had payable balances due to related parties totaling $594,000 and $1,554,639, respectively.

As of July 31, 2022 and April 30, 2022 the outstanding balances of notes payable was $105,042 and $375,042, respectively.

During the three months period ended July 31, 2022 the Company issued 53,750 shares of series B preferred with a value of $322,500 for the payment of note of $300,000 and interest of $22,500.

As of July 31, 2022, and April 30, 2022, the convertible debt outstanding, net of discount, was $327,965 and $305,127, respectively.

During the three month period ended July 31, 2022, the Company issued 697,662 shares of series B preferred with for the reduction of $2,901,905 of notes payable and accrued expenses. The issuance consisted of 279,026 shares to related parties for accrued expense of $1,074,250, 53,750 shares for the payment of $322,500 of notes payable and interest and 364,886 shares for the payment of $1,505,155 of accounts payable and accrued expenses, The Company realized a loss on settlement of debt and accruals of $835,829 from the issuance of the series B preferred. The fair value of the shares issued were determined by the closing price of the number of common shares to be issued at the conversion of 10 common shares for each series B preferred share.

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