CONVERTIBLE DEBENTURES

6 Months Ended

Feb. 28, 2022

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

NOTE 5 – CONVERTIBLE DEBENTURES

The Company’s convertible debentures consisted of the following:

	February 28, 2022		August 31, 2021
Convertible notes payable	$	590,991	$	590,991
Unamortized debt discount		-		-
Total	$	590,991	$	590,991

The convertible debentures matured in 2015, and bear interest at ranges between 6% and 15%. The convertible debentures are convertible at ratios varying between 45% and 50% of the closing price at the date of conversion through, at its most favorable terms for the holders, the average of the three lowest closing bids for a period of 5-30 days prior to conversion.