LOANS PAYABLE

3 Months Ended

Nov. 30, 2024

Debt Disclosure [Abstract]

Long-Term Debt [Text Block]

NOTE 3 – LOANS PAYABLE

	November 30, 2024		August 31, 2024
Loans payable	$	3,239,777	$	3,175,331

The loans payables are generally due on demand and have not been called, are unsecured, and are bearing interest at a range of 0-12%., with the exception of one loan payable to a financial institution. Such loan, which amounted to $19,769 at November 30, 2024 bears interest rate at 2.5%, is unsecured, matures in November 2027 with principal and interest payable monthly. This loan is part of a Bounce Back Loan Scheme from the UK Government.

The company may have to provide alternative consideration (which may be in cash, fixed number of shares or other financial instruments) up to amounts accrued to satisfy its fixed obligations under certain unsecured loans payable. The consideration hasn’t been issued yet and is included in accrued expenses and interest expense and was valued based on the fair value of the consideration at issuance.

The aggregate schedule maturities of the Company’s loans payable outstanding as of November 30, 2024 are as follows:

Twelve-month period ended November 30, 2025	$	3,227,706
2026		10,951
2027		1,120
	$	3,239,777