ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

12 Months Ended

Aug. 31, 2013

Payables and Accruals [Abstract]

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

NOTE 4 - ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Accounts payable and accrued liabilities as of August 31, 2013 and 2012 are comprised of the following:

	August 31, 2012		August 31, 2012
Accounts payable	$	533,593	$	425,952
Accrued compensation		-		410,596
Total accounts payable and accrued liabilities	$	533,593	$	836,548

Upon the completion of the reverse merger transaction, the Company determined certain liabilities have been forgiven by the creditors/shareholders, which is deemed as extinguished as of August 31, 2011. Accordingly, the Company has recorded a gain on forgiveness of debt of $261,793 that related to the write-off of these extinguished liabilities during the year ended August 31, 2011.

During the year ended August 31, 2013, the Company determined certain accrued compensation have been forgiven by the officers / related parties and accordingly, the Company credited to additional paid-in capital as contributed services rendered by the officers / related parties of $523,096 (accrued amount of $410,596 as of August 31, 2012 and the amount incurred during the year ended August 31, 2013 of $112,500).

Also, during the year ended August  31, 2013, the Company determined certain liabilities have been forgiven by the creditors and accordingly, the Company recorded a gain on forgiveness of debt of $166,142 during the year ended August 31, 2013.