Note 13 - Subsequent Events |
12 Months Ended |
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Aug. 31, 2016 | |
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Note 13 – Subsequent Events
During November 2016 Company entered into forbearance agreements with the investors of the 3.5% OID Convertible Notes extending its time to pay the Notes until December 16, 2016 (see note 9).
We evaluated subsequent events after the balance sheet date through the date the financial statements were issued. We did not identify any additional material events or transactions occurring during this subsequent event reporting period that required further recognition or disclosure in these financial statements.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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