SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Feb. 29, 2012

Notes to Financial Statements

Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Company’s significant accounting policies are summarized in Note 2 of the Company’s Annual Report on Form 10-K for the year ended August 31, 2011. There were no significant changes to these accounting policies during the six months ended February 29, 2012 and the Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its financial statements.