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NOTE 5-NOTE PAYABLE
3 Months Ended
Nov. 30, 2014
Debt Disclosure [Abstract]  
NOTE 5-NOTE PAYABLE

NOTE 5-NOTE PAYABLE

 

The Company is obligated on eight short term loans, all past due, with six bearing interest at 15% and two with interest at 5% totaling $294,603. A ninth note for $30,000 without interest is owed to the Company’s CEO. The total note payable liability is $324,603 and is shown on the balance sheet under notes payable. Interest owed at November 30, 2014 equals $36,254 and is shown on the balance sheet, Total interest expense for the quarter ended November 30, 2014 was $7,526 which is shown on the statement of operations.