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COMMITMENTS AND CONTINGENCIES
9 Months Ended
May 31, 2013
Notes to Financial Statements  
Note 11 - COMMITMENTS AND CONTINGENCIES

Consulting Agreement

 

Effective September 1, 2010, the Company entered into a consulting agreement with, L.A. Dreamline II, LLC, a marketing consultant (a related party), for a monthly consulting fee of $15,000.  The consulting agreement is for a term of 25 months.  For the nine months ended May 31, 2013 and 2012, the Company paid the related party $135,000 and $135,000, respectively.

 

Software Maintenance Agreement

 

Under a Software Maintenance Agreement entered into in June 2013 with the software developer under the January 2013 Software Development Agreement, the Company agreed to a software maintenance fee of $62,640 per month for the six months July 1 through December 31, 2013.