Related Parties	7 Months Ended
Mar. 31, 2022
Related Parties
Note 3 - Related Parties	Note 3 – Related Parties SBS Management LLC During the seven months ended March 31, 2022, the Company incurred $339,000 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; $35,000 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 March 31, 2022, $288,419 was included in Accounts payable – related party in the accompanying balance sheet. During the seven months ended March 31, 2021, the Company incurred $88,099 of management fees; $35,000 for reimbursement of rent; and $11,494 of advances to the Company to cover certain operating expenses and accounts payable from SBS Management LLC. As of August 31, 2021, $41,233 was owed to SBS Management LLC and was included in Accounts payable – related party in the accompanying balance sheet. During the year ended August 31, 2021, the Company incurred $150,000 of management fees, $60,000 for reimbursement of rent, $12,093 of advances, and $5,000 advance of working capital to the Company to cover certain operating expenses from SBS Management LLC. As of August 31, 2021, $127,233 was included in Accounts payable – related party in the accompanying balance sheet. During the period from inception (April 15, 2020) to August 31, 2020, SBS Management LLC was paid $53,000 of management fees and the Company reimbursed SBS Management LLC $20,000 for rent expense. The advances are unsecured, non-interest bearing, with no formal terms of repayment. Gray’s Peak Capital Gray’s Peak Capital, a company founded by a shareholder of the Company, made advances to the Company to cover certain operating expenses. As of March 31, 2022 the amount due Gray’s Peak Capital for these advances was $218,620 and as of August 31, 2021 and 2020, the amounts due Grays’s Peak were $120,870 and $27,870, respectively. Amounts owed to Gray’s Peak were included in accounts payable – related party in the accompanying balance sheet. These advances are unsecured, non-interest bearing, with no formal terms of repayment. Consulting Fees During the seven months ended March 31, 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. Management During the seven months ended March 31, 2022 and 2021, the Company incurred $473,500 and $68,750, respectively, of consulting fees of which $375,000 incurred during the seven months ended March 31, 2022 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 March 31, 2022 $201,000 was included in accounts payable – related party in the accompanying balance sheet. During the year ended August 31, 2021, the Company incurred $112,500 of consulting fees from a shareholder of the company of which $5,000 was paid and $107,500 was included in accounts payable – related party in the accompanying balance sheet. During the seven months ended March 31, 2022 and 2021, the Company incurred $480,000 and $97,500, respectively of consulting fees of which $375,000 incurred during the seven months ended March 31, 2022 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 March 31, 2022, $232,500 was included in accounts payable – related party in the accompanying balance sheet. During the year ended August 31, 2021, the Company incurred $112,500 of consulting fees from a shareholder of the company of which $5,000 was paid and $107,500 was included in accounts payable – related party in the accompanying balance sheet. During the year ended August 31, 2021, the Company incurred $130,000 from a consulting and employment agreement with its CEO of which $5,000 was paid and $130,000 was included in accounts payable – related party in the accompanying balance sheet.

Related Parties

7 Months Ended

Mar. 31, 2022

Note 3 – Related Parties

SBS Management LLC

During the seven months ended March 31, 2022, the Company incurred $339,000 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; $35,000 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 March 31, 2022, $288,419 was included in Accounts payable – related party in the accompanying balance sheet.

During the seven months ended March 31, 2021, the Company incurred $88,099 of management fees; $35,000 for reimbursement of rent; and $11,494 of advances to the Company to cover certain operating expenses and accounts payable from SBS Management LLC. As of August 31, 2021, $41,233 was owed to SBS Management LLC and was included in Accounts payable – related party in the accompanying balance sheet.

During the year ended August 31, 2021, the Company incurred $150,000 of management fees, $60,000 for reimbursement of rent, $12,093 of advances, and $5,000 advance of working capital to the Company to cover certain operating expenses from SBS Management LLC. As of August 31, 2021, $127,233 was included in Accounts payable – related party in the accompanying balance sheet.

During the period from inception (April 15, 2020) to August 31, 2020, SBS Management LLC was paid $53,000 of management fees and the Company reimbursed SBS Management LLC $20,000 for rent expense.

The advances are unsecured, non-interest bearing, with no formal terms of repayment.

Gray’s Peak Capital

Gray’s Peak Capital, a company founded by a shareholder of the Company, made advances to the Company to cover certain operating expenses. As of March 31, 2022 the amount due Gray’s Peak Capital for these advances was $218,620 and as of August 31, 2021 and 2020, the amounts due Grays’s Peak were $120,870 and $27,870, respectively. Amounts owed to Gray’s Peak were included in accounts payable – related party in the accompanying balance sheet.

These advances are unsecured, non-interest bearing, with no formal terms of repayment.

Consulting Fees

During the seven months ended March 31, 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.

Management

During the seven months ended March 31, 2022 and 2021, the Company incurred $473,500 and $68,750, respectively, of consulting fees of which $375,000 incurred during the seven months ended March 31, 2022 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 March 31, 2022 $201,000 was included in accounts payable – related party in the accompanying balance sheet.

During the year ended August 31, 2021, the Company incurred $112,500 of consulting fees from a shareholder of the company of which $5,000 was paid and $107,500 was included in accounts payable – related party in the accompanying balance sheet.

During the seven months ended March 31, 2022 and 2021, the Company incurred $480,000 and $97,500, respectively of consulting fees of which $375,000 incurred during the seven months ended March 31, 2022 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 March 31, 2022, $232,500 was included in accounts payable – related party in the accompanying balance sheet.

During the year ended August 31, 2021, the Company incurred $130,000 from a consulting and employment agreement with its CEO of which $5,000 was paid and $130,000 was included in accounts payable – related party in the accompanying balance sheet.