Related Parties	6 Months Ended
Feb. 28, 2022
Related Parties
Note 3 - Related Parties	Note 3 – Related Parties During the six months ended February 28, 2022, the Company incurred $326,000 of management fees of which $250,000 related to non-cash stock compensation for the issuance of 500,000 shares of the Company’s common stock issued at a fair market value on the date of issuance of $0.50 per share; $30,000 for reimbursement of rent; and $8,530 of advances to the Company to cover certain operating expenses and accounts payable from SBS Management LLC, a company controlled by Mr. Scott Stevens who is a shareholder of the Company. The fair market value of the common stock issued was determined based on the historical market price of the Company’s common stock as of the date of issuance. As of February 28, 2022, $261,359 was included in Accounts payable – related party on the accompanying unaudited balance sheet. During the six months ended February 28, 2021, the Company incurred $75,000 of management fees; $30,000 for reimbursement of rent; and $8,487 of advances to the Company to cover certain operating expenses and accounts payable from SBS Management LLC. As of August 31, 2021, $127,233 was owed to SBS Management LLC and was included in Accounts payable – related party on the accompanying unaudited balance sheet. The advances are unsecured, non-interest bearing, with no formal terms of repayment. During the six months ended February 28, 2022, Gray’s Peak Capital, a company founded by a shareholder of the Company, made advances to the Company to cover certain operating expenses. These advances are unsecured, non-interest bearing, with no formal terms of repayment. As of February 28, 2022 and August 31, 2021, the amounts due Gray’s Peak Capital for these advances was $201,120 and $120,870, respectively, and was included in accounts payable – related party on the accompanying balance sheet. During the six months ended February 28, 2022, the Company incurred $461,000 of consulting fees of which $375,000 related to non-cash stock compensation for the issuance of 750,000 shares of the Company’s common stock issued at a fair value on the date of issuance of $0.50 per share, from a consulting agreement with the Company’s SVP Portfolio & Business Development. The fair market value of the common stock issued was determined based on the historical market price of the Company’s common stock as of the date of issuance. As of February 28, 2022 and August 31, 2021 $193,500 and $107,500, respectively, was included in accounts payable – related party on the accompanying balance sheet. During the six months ended February 28, 2022, the Company incurred $465,000 of consulting fees of which $375,000 related to the non-cash issuance of the 750,000 shares of the Company’s common stock issued at a fair value on the date of issuance of $0.50 per share, from a consulting and employment agreement with its CEO. The fair market value of the common stock issued was determined based on the historical market price of the Company’s common stock as of the date of issuance. As of February 28, 2022 and August 31, 2021, $220,000 and $130,000, respectively, was included in accounts payable – related party on the accompanying balance sheet. During the six months ended February 28, 2022, the Company incurred $750,000 of consulting fees related to the non-cash issuance of 1,500,000 shares of the Company’s common stock at a fair market value of $0.50 per share on the date of issuance to Emmes Group Consulting LLC (“Emmes”), which the Company’s Chief Scientific Officer is the managing director of Emmes. The fair market value of the common stock issued was determined based on the historical market price of the Company’s common stock as of the date of issuance.

Related Parties

6 Months Ended

Feb. 28, 2022

Note 3 – Related Parties

During the six months ended February 28, 2022, the Company incurred $326,000 of management fees of which $250,000 related to non-cash stock compensation for the issuance of 500,000 shares of the Company’s common stock issued at a fair market value on the date of issuance of $0.50 per share; $30,000 for reimbursement of rent; and $8,530 of advances to the Company to cover certain operating expenses and accounts payable from SBS Management LLC, a company controlled by Mr. Scott Stevens who is a shareholder of the Company. The fair market value of the common stock issued was determined based on the historical market price of the Company’s common stock as of the date of issuance. As of February 28, 2022, $261,359 was included in Accounts payable – related party on the accompanying unaudited balance sheet. During the six months ended February 28, 2021, the Company incurred $75,000 of management fees; $30,000 for reimbursement of rent; and $8,487 of advances to the Company to cover certain operating expenses and accounts payable from SBS Management LLC. As of August 31, 2021, $127,233 was owed to SBS Management LLC and was included in Accounts payable – related party on the accompanying unaudited balance sheet. The advances are unsecured, non-interest bearing, with no formal terms of repayment.

During the six months ended February 28, 2022, Gray’s Peak Capital, a company founded by a shareholder of the Company, made advances to the Company to cover certain operating expenses. These advances are unsecured, non-interest bearing, with no formal terms of repayment. As of February 28, 2022 and August 31, 2021, the amounts due Gray’s Peak Capital for these advances was $201,120 and $120,870, respectively, and was included in accounts payable – related party on the accompanying balance sheet.

During the six months ended February 28, 2022, the Company incurred $461,000 of consulting fees of which $375,000 related to non-cash stock compensation for the issuance of 750,000 shares of the Company’s common stock issued at a fair value on the date of issuance of $0.50 per share, from a consulting agreement with the Company’s SVP Portfolio & Business Development. The fair market value of the common stock issued was determined based on the historical market price of the Company’s common stock as of the date of issuance. As of February 28, 2022 and August 31, 2021 $193,500 and $107,500, respectively, was included in accounts payable – related party on the accompanying balance sheet.

During the six months ended February 28, 2022, the Company incurred $465,000 of consulting fees of which $375,000 related to the non-cash issuance of the 750,000 shares of the Company’s common stock issued at a fair value on the date of issuance of $0.50 per share, from a consulting and employment agreement with its CEO. The fair market value of the common stock issued was determined based on the historical market price of the Company’s common stock as of the date of issuance. As of February 28, 2022 and August 31, 2021, $220,000 and $130,000, respectively, was included in accounts payable – related party on the accompanying balance sheet.

During the six months ended February 28, 2022, the Company incurred $750,000 of consulting fees related to the non-cash issuance of 1,500,000 shares of the Company’s common stock at a fair market value of $0.50 per share on the date of issuance to Emmes Group Consulting LLC (“Emmes”), which the Company’s Chief Scientific Officer is the managing director of Emmes. The fair market value of the common stock issued was determined based on the historical market price of the Company’s common stock as of the date of issuance.