Note 6 - Related Party Transactions |
3 Months Ended |
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Nov. 30, 2016 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions Disclosure [Text Block] |
Note 6 – Related Party Transactions
Former Majority Shareholder – BK Consulting
On October 28, 2015, the Company issued an unsecured convertible loan to a related party of $1,700, non-interest bearing, due on demand and convertible into Common Stock at a rate $0.002 per share, from a major shareholder, BK Consulting, to fund operations. The Company calculated the beneficial conversion feature embedded in the convertible note. The conversion feature, in the amount of $1,700, was recorded as debt discount.
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 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.
As of November 30, 2016 and August 31, 2016 the balance of the BK Consulting convertible debt was $0 and $0. The Company records imputed interest on all outstanding convertible notes at a rate of 8%. The Company recorded imputed interest in the amount of $0 and $553 during the three months ended November 30, 2016 and 2015.
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