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Subsequent Events
12 Months Ended
Aug. 31, 2015
Subsequent Events [Abstract]  
Subsequent Events

NOTE 7 – SUBSEQUENT EVENTS

 

Pursuant to agreement, effective November 13, 2015 Bruce Niswander and Sebastian Serrell-Watts resigned as officers and directors of the Company.

 

On November 21, 2015 the Company entered into a Reorganization and Stock Purchase Agreement with Alexian Scientific, Inc. Closing of the agreement is conditioned on the Company obtaining funding of a minimum of $10,000,000. At closing, the Company will issue 38,777,630 shares of common stock to designees of Alexian in consideration for 100% of the equity of Alexian, the Company will appoint designees of Alexian as its officers and directors, and all of the current officers and directors of the Company will resign. As part of the agreement with Alexian, shareholders of the Company cancelled certain shares of common stock of the Company such that subsequent to closing there will be a total of 80,786,730 shares of common stock outstanding.

 

Effective November 20, 2015 in connection with the proposed Alexian transaction, principals of the Company cancelled and returned to treasury a total of 21,583,000 shares of common stock held by them.

 

Also effective November 20, 2015, the Company issued a total of 626,000 shares of common stock to investors and issued 530,200 shares of common stock to officers and employees of the Company in lieu of salary.