CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
May 31, 2018 |
May 31, 2017 |
May 31, 2018 |
May 31, 2017 |
|
| Revenue | $ 0 | $ 714 | $ 475 | $ 1,034 |
| Cost of goods sold | 0 | 138 | 211 | 231 |
| Net revenue | 0 | 576 | 264 | 803 |
| Operating expenses: | ||||
| Selling, general and administrative | 181,322 | 83,322 | 269,654 | 341,827 |
| Professional fees | 58,187 | 32,234 | 121,577 | 79,332 |
| Total operating expenses | 239,509 | 115,556 | 391,231 | 421,159 |
| Net Operating Loss | (239,509) | (114,980) | (390,967) | (420,356) |
| Other income (expense): | ||||
| Interest expense | (366,791) | (274,693) | (885,987) | (658,758) |
| Gain on restructuring of debt | 1,172,993 | 0 | 1,027,260 | 0 |
| Loss on conversion of debt | (139,325) | 0 | (474,649) | 0 |
| Change in fair value of derivative liability | (948,132) | (75,998) | (1,489,748) | (342,270) |
| Total other income (expense), net | (281,255) | (350,691) | (1,823,124) | (1,001,028) |
| Net loss from continuing operations | (520,764) | (465,671) | (2,214,091) | (1,421,384) |
| Net loss from discontinued operations | (17,499,209) | 0 | (17,499,209) | 0 |
| Provision for income taxes | 0 | 0 | 0 | 0 |
| Consolidated net loss | $ (18,019,973) | $ (465,671) | $ (19,713,300) | $ (1,421,384) |
| Net loss per share – continuing operations: basic and diluted (in Dollars per share) | $ (0.01) | $ (0.01) | $ (0.03) | $ (0.02) |
| Net loss per share – discontinued operations: basic and diluted | $ (0.22) | $ (0.01) | $ (0.22) | $ (0.02) |
| Weighted average shares outstanding – basic and diluted (in Shares) | 79,683,842 | 77,875,973 | 79,039,656 | 77,816,280 |
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- Definition Gain or loss on conversion. No definition available.
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition For a debtor, the aggregate gain (loss) recognized on the restructuring of payables arises from the difference between the book value of the debt before the restructuring and the fair value of the payments on the debt after restructuring is complete. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax of income (loss) from a discontinued operation attributable to the parent. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of undistributed earnings (loss) from discontinued operations, allocated to common stock, as if earnings and addition from assumption of issuance of common shares for dilutive potential common shares, had been distributed. Excludes distributed earnings. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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