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CORRECTION OF AN ERROR
12 Months Ended
Aug. 31, 2023
Prior Period Adjustment [Abstract]  
Error Correction [Text Block]

NOTE 2  CORRECTION OF AN ERROR

 

The Company had recognized $49,500 of accrued expenses as a general reserve for legal fees with no identifiable law firm or vendors in fiscal 2011.  No law firms or similar vendors have made a claim regarding this accrual or other legal expenses since fiscal 2011, and accordingly, the Company believes that this accrued expense was recorded in error.  The error resulted in an overstatement of accounts payable and accrued expenses as of August 31, 2022 and accumulated deficit as of August 31, 2021.  This error did not impact the Company’s consolidated statement of operations and comprehensive income and consolidated  statement of cash flows.  The accounts payable and accrued expenses and accumulated deficit in the accompanying consolidated balance sheets and consolidated statements of changes in stockholders’ deficit have been restated as of August 31, 2022 and August 31, 2021, respectively, to reflect the correction of the error.