Income Tax (Tables)

9 Months Ended

May 31, 2015

Income Tax Tables

Schedule of Net Deferred Tax Assets

Net deferred tax assets consist of the following components as of August 31, 2014 and 2013:

	August 31, 2014			August 31, 2013
Deferred Tax Assets – Non-current:
NOL Carryover	$	(360,958	)	$	(280,897	)
					—
Less valuation allowance		360,958			280,897
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 containing operations for the period ending August 31, 2014 and 2013 due to the following:

	2014			2013
Book Income		(2,871,673	)	$	(33,322,711	)
Meals and Entertainment		—			—
Stock for Services		2,465,118			32,563,529
Accrued Payroll		190,173			—
Valuation allowance		216,382			759,182
	$	—		$	—