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DERECOGNITION OF LIABIILITIES
9 Months Ended
May 31, 2025
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]  
DERECOGNITION OF LIABIILITIES

NOTE 9  DERECOGNITION OF LIABIILITIES

 

During the nine-month period ended May 31, 2025, the Company successfully reached an agreement with a holder of convertible debentures aggregating $739,415 in principal, accrued interest and derivative liabilities in consideration of 100,000,000 shares of the Company’s common stock, which generated a gain on extinguishment of debt of $459,415. The fair value of the shares issued amounted to $280,000 at the date of settlement. The gain was recognized as gain on derecognition of liabilities in the accompanying unaudited consolidated statement of operations.