Note 5 - Stockholders' Equity |
12 Months Ended |
|---|---|
Aug. 31, 2015 | |
| Stockholders' Equity Note [Abstract] | |
| Stockholders' Equity Note Disclosure [Text Block] |
Note 5 – Stockholders’ Equity
Preferred stock
The Company is authorized to issue 20,000,000 shares of $0.001 par value preferred stock as of August 31, 2015 and 2014. The Company has 1,000 shares of preferred stock issued and outstanding as of August 31, 2015 and 2014.
On August 15, 2009, the Company issued a total of 2,000 shares of preferred stock to two individual investors in a private placement under Rule 506 of the Securities Act of 1933 for $5,000 in cash, or $2.50 per share.
On October 12, 2010, a preferred stock shareholder elected to convert 1,000 shares of preferred stock in exchange for 3,000 shares of common stock.
Common stock
The Company is authorized to issue 580,000,000 shares of $0.001 par value common stock as of August 31, 2015 and 2014. The Company has 37,581,903 and 37,581,903 shares of common stock issued and outstanding as of August 2015 and 2014.
During the year ended August 31, 2014, the Company issued 6,223,000 shares of common stock at $0.002 for conversion of debt due to third parties, valued at $12,446.
During the year ended August 31, 2014, the Company issued 15,016,500 shares of common stock at $0.002 for conversion of debt due to the Company’s major shareholder, BK Consulting, valued at $30,033.
During the year ended August 31, 2014, the Company issued 3,510,500 shares of common stock at $0.002 for conversion of debt due to the Company’s former CEO, Robert Timothy, valued at $7,021.
During the year ended August 31, 2014, the Company issued 12,771,500 shares of common stock at $0.002 for conversion of debt due to the Company’s CEO, Gerald Ricks, valued at $25,543.
During the year ended August 31, 2015, no shares of common stock were issued.
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