XML 32 R22.htm IDEA: XBRL DOCUMENT v3.21.2
Subsequent Events
12 Months Ended
Aug. 31, 2021
Subsequent Events [Abstract]  
Subsequent Events

Note 16 – Subsequent Events

 

Subsequent to August 31, 2021, the Company issued 28,669,316 shares of common stock pursuant to the conversion of 280,750 shares of Series B Convertible Preferred stock, and accrued dividends of $11,230.

 

Subsequent to August 31, 2021, the Company issued 20,446,317 shares of common stock pursuant to the conversion of a total of $197,000 in principal and $17,919 in accrued interest and fees from two lenders.

 

On September 22, 2021, the Company entered into a $25,000 convertible promissory note with a vendor to settled approximately $21,000 of outstanding accounts payable. The note matures on March 22, 2022, is non-interest bearing, and can be converted at the holders option into common stock of the Company at 65% of the lowest trading price of the common stock for the 20 days prior to conversion.

 

On October 13, 2021, the Company amended its articles of incorporation to increase the number of authorized common shares to 1,000,000,000.

 

On October 14, 2021, the Company entered into an agreement with an investor for 68,500 shares of Series B Convertible Preferred Stock for a total purchase amount of $68,500, and an agreement with the same investor for 78,500 shares of Series B Convertible Preferred Stock for a purchase amount of $78,500. In October 2021, the Company received proceeds of $65,000.