Note 10 - Stockholders' Equity |
6 Months Ended |
|---|---|
Feb. 28, 2017 | |
| Stockholders' Equity Note [Abstract] | |
| Stockholders' Equity Note Disclosure [Text Block] |
Note 10 – Stockholders’ Equity
Preferred stock
The Company is authorized to issue 20,000,000 shares of $0.001 par value preferred stock as of February 28, 2017 and August 31, 2016. The Company has 1,000 shares of preferred stock issued and outstanding as of February 28, 2017, 2016 and August 31, 2016.
Common stock
The Company is authorized to issue 580,000,000 shares of $0.001 par value common stock as of February 28, 2017 and August 31, 2016. The Company has 77,810,303 and 77,775,303 shares of common stock issued and outstanding as of February 28, 2017 and August 31, 2016.
On November 2, 2015, BK Consulting converted $29,500 of convertible debt 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, BK Consulting converted $10,744 of convertible debt 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 August 31, 2016, subscription receivables were $5,372.
On May 11, 2016, the Company issued 200,000 shares of common stock, valued at $360,000 as commitment shares to convertible note holders. These shares were issued at fair value based on the market price at issuance of $1.80 per share.
On January 4, 2017, the Company issued 35,000 shares of common stock, valued at $68,950 as commitment shares to convertible note holders. These shares were issued at fair value based on the market price at issuance of $1.80 per share.
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