Quarterly report pursuant to Section 13 or 15(d)

Note 4 - Due to Related Parties

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Note 4 - Due to Related Parties
3 Months Ended
Nov. 30, 2011
Debt Disclosure [Text Block]
Note 4 –  Due to Related Parties

From time to time the Company has received loans from the former CEO, Robert Timothy, to fund operations. The total outstanding balance of the unsecured, demand notes, bearing interest at 10% was $5,445 at November 30, 2011 and August 31, 2011. Accrued interest of $950 and $814 was outstanding as of November 30, 2011 and August 31, 2011, respectively.

From time to time the Company has received loans from the Company’s CEO, Gerald Ricks, to fund operations. During the three months ended November 30, 2011, the Company received loans from Mr. Ricks in the aggregate amount of $2,136.  The total outstanding balance of the unsecured, demand notes, bearing interest at 10% was $11,350 and $9,214 at November 30, 2011 and August 31, 2011, respectively. Accrued interest of $497 and $264 was outstanding as of November 30, 2011 and August 31, 2011, respectively.

From time to time the Company has received loans from a major shareholder, BK Consulting, to fund operations. The total outstanding balance of the unsecured, demand notes, bearing interest at 10% was $11,140 November 30, 2011 and August 31, 2011. Accrued interest of $1,058 and $781 was outstanding as of November 30, 2011 and August 31, 2011, respectively.

Total amounts due to related parties were $27,924 and $25,799 at November 30, 2011 and August 31, 2011, respectively.

The Company has accrued interest of $2,506 and $1,859 to related parties as of November 30, 2011 and August 31, 2011, respectively.