Note 8 - Related Party Transactions |
3 Months Ended |
|---|---|
Nov. 30, 2017 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions Disclosure [Text Block] |
Note 8 – Related Party Notes Payable
In January and February 2017, the Company’s President and CEO loaned the Company the aggregate amount of $70,000 represented by three notes payable. In April and May 2017, the Company’s President and CEO loaned the Company an additional $134,000 represented by three notes payable; in June and August, 2017, the Company’s President and CEO loaned the Company an additional $27,000 represented by two notes payable. During the three months ended November 30, 2017, the Company’s President and CEO loaned the Company an additional $35,500 represented by four notes payable, and the Company repaid one of the notes in the amount of $75,000. The Company accrued interest expense in the amount of $1,191 and paid accrued interest in the amount of $950 under these notes payable during the three months ended November 30, 2017. At November 30, 2017, the Company has a principal balance in the amount of $191,500 and accrued interest in the amount of $2,253 due to its President and CEO pursuant to these notes payable.
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