Equity

6 Months Ended

Feb. 28, 2022

Equity

Note 4 - Equity

Note 4 – Equity

As of February 28, 2022 and August 31, 2021, the Company has authorized 50,000,000 shares of common stock at a par value of $0.001 per share and had issued and outstanding shares of common stock of 38,916,951 and 34,874,605, respectively.

Shares issued

During the six months ended February 28, 2022, the Company issued 22,346 shares of the Company’s common stock in exchange for a one year software subscription, which totaled $20,000. The fair value of the common stock issued was $0.89, which was determined based on the historical market price of the Company’s common stock as of the date of issuance. The fair value determined is being amortized ratably over the one year subscription period to general and administrative expenses.

As of August 31, 2021, the Company had not issued 520,000 shares previously sold and as such $180,000 was reflected in the accompanying consolidated balance sheet as common stock to be issued. During the six months ended February 28, 2022, all shares had been issued.

During the six months ended February 28, 2022, the Company issued 3,500,000 shares of its common stock to related parties. See Note 3.

During the six months ended February 28, 2022, the Company issued 200,000 shares of its common stock sold at a price of $0.50 per share which was previously sold and reflected as common stock to be issued as of August 31, 2021.