BATTERY MANAGEMENT TECHNOLOGY

6 Months Ended

Feb. 28, 2022

Battery Management Technology [Abstract]

BATTERY MANAGEMENT TECHNOLOGY ("BMT") [Text Block]

7. BATTERY MANAGEMENT TECHNOLOGY ("BMT")

On December 17, 2021, The Company entered into a Definitive Purchase and Sale Agreement with Mr. Mark Snyder and Paul Sandler to acquire 100% ownership and rights to their Provisional Patent Pending BMT. The Company created a Joint Venture ("JV") with 51% controlling interest to run the commercial and industrial operations related to the BMT and has paid $30,000 in cash and issued 10,000,000 shares (5,000,000 shares of which are in escrow) valued at $450,000 for purchase of the BMT. BMT is still in research and development phase and have not obtained commercial or operational feasibility as at period ended February 28, 2022. The The Company has recorded the entire considerations of $480,000 for the ownership of the BMT as research and development expense in the condensed statement of operations for the period ended February 28, 2022.