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RELATED PARTY TRANSACTIONS
12 Months Ended
Aug. 31, 2016
Notes to Financial Statements  
Note 4. RELATED PARTY TRANSACTIONS

In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note.

 

From July 29, 2013 through August 31, 2015, the Company's previous sole director loaned the Company $22,406 to pay for incorporation costs and operating expenses. The loan was non-interest bearing, due upon demand and unsecured. Thereafter, this director advanced another $300 to the Company for operating expenses and the Company's computer was disposed to this director for a value $563. On January 15, 2016, the $22,143 balance of the loan was forgiven by this director and was recorded as additional paid-in capital. As at August 31, 2016 and August 31, 2015, the Company owed $0 and $22,406 to this director, respectively.

 

On June 1, 2016, the Company sold 10,000,000 shares of its common stock to the Company’s sole director at $0.01.

 

During the year ended August 31, 2016, $15,000 was paid to two related parties as salaries and wages.

 

The Company had management fees to the current sole director of $2,087 for the year ending August 31, 2016. As of August 31, 2016, the Company owed $2,797 to the current sole director.