Income Tax (Tables)

12 Months Ended

Aug. 31, 2013

Income Tax Tables

Schedule of Net Deferred Tax Assets

Net deferred tax assets consist of the following components as of August 31, 2013 and 2012:

	August 31, 2013			August 31, 2012
Deferred Tax Assets – Non-current:
NOL Carryover	$	(13,944,283	)	$	(13,944,283	)
					—
Less valuation allowance		13,944,283			13,944,283
Deferred tax assets, net of valuation allowance	$	—		$	—

Schedule of Reconciliation of Income Tax Provision

The income tax provision differs from the amount of income tax determined by applying the U.S. federal income tax rate to pretax income from continuing operations for the period ended August 31, 2013 and 2012 due to the following:

	2013			2012
Book Income		(372,000	)		—
Meals and Entertainment		—			—
Stock for Services		360,000			—
Accrued Payroll		12,000			—
Valuation allowance		—			—
	$	—		$	—