TECHNOLOGY DEVELOPMENT

6 Months Ended

Feb. 28, 2022

6. TECHNOLOGY DEVELOPMENT

On December 6, 2021, The Company entered into a Definitive Purchase and Sale Agreement with Mr. Terry Galyon to acquire 100% ownership and rights to the Hydrogen Technology. The Company paid $25,000 in cash and issued 1,000,000 shares to Mr. Terry Galyon in consideration for acquiring the Hydrogen Technology. The Company has recorded the considerations for the purchase of the Hydrogen Technology as research and development expense in the condensed statement of operations for the period ended February 28, 2022, as follows:

Consideration for Purchase of Hydrogen Technology		Amount $
2,000,000 shares at FV 0.0502 (Adjusted closing price on the date of the issuance)		100,400
Cash payment		25,000
Total		125,400

The technology is still in research and development phase and is not commercially feasible as at period ended February 28, 2022. The Company has incurred an additional $16,905 as research and development costs for the period ended February 28, 2022 related to hydrogen technology.