Sale of Subsidiary

12 Months Ended

Aug. 31, 2013

Notes

Sale of Subsidiary

Note 4  Sale of Subsidiary

Effective May 31, 2012, we sold all of the outstanding shares of Axiom Mexico to an unrelated entity for total consideration of $100.  We recognized a gain of $160,681 on the sale.  As a result of the sale, as of May 31, 2012, all the assets and liabilities of Axiom Mexico were no longer reported in the accompanying consolidated balance sheet and the expenses of Axiom Mexico are no longer reported in the accompanying consolidated statement of operations subsequent to May 31, 2012.

Axiom Mexico’s expenses included in the accompanying consolidated statements of operations are as follows:

		Period from
		Inception of
		Exploration Stage
		September 1,
		2010) through
	August 31,	August 31,
	2012	2013
Expenses
Compensation	$ 121,421	$ 267,327
General and administrative	56,967	140,676
Exploration	192,088	351,683
Impairment of goodwill	--	525,477
Loss before other expenses	(370,476)	(1,285,163)
Foreign currency loss	(60,618)	(80,958)
Net loss	$ (431,094)	$ (1,366,121)