Note 8 - Stockholders' Equity |
6 Months Ended |
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Feb. 29, 2016 | |
| Stockholders' Equity Note [Abstract] | |
| Stockholders' Equity Note Disclosure [Text Block] |
Note 8 – Stockholders’ Equity
Preferred stock
The Company is authorized to issue 20,000,000 shares of $0.001 par value preferred stock as of February 29, 2016 and August 31, 2015. The Company had 1,000 shares of preferred stock issued and outstanding as of February 29, 2016 and August 31, 2015, respectively.
Common stock
The Company is authorized to issue 580,000,000 shares of $0.001 par value common stock as of February 29, 2016 and August 31, 2015. The Company had 77,575,303 and 37,581,903 shares of common stock issued and outstanding as of February 29, 2016 and August 31, 2015, respectively.
During the year ended August 31, 2015, no shares of common stock were issued.
On November 2, 2015, the Company converted $29,500 of convertible debt due to BK Consulting, into 14,750,400 shares of common stock at a conversion price of $0.002. As the note conversion occurred within the terms of the agreement, no gain or loss was recognized.
On November 3, 2015, the Company issued 14,500,000 shares of common stock at par value, $0.001 per share, to a third party investor, for cash proceeds of $14,500.
On November 10, 2015, the Company converted $10,744 of convertible debt due to BK Consulting, into 5,371,500 shares of common stock at a conversion price of $0.002. As the note conversion occurred within the terms of the agreement, no gain or loss was recognized.
On November 11, 2015, the Company issued 5,371,500 shares of common stock at par value, $0.001 per share, to BK Consulting, for a stock subscription receivable, valued at $5,372. As of February 29, 2016, subscription receivables was $5,372.
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