Related Party Transactions Disclosure

12 Months Ended

Aug. 31, 2024

Notes

Related Party Transactions Disclosure

NOTE 12. RELATED PARTY TRANSACTIONS

The Company had the following related party transactions during the year ending August 31, 2024 and 2023.

Shares Issued to the CEO

In addition to an annual salary, the Company also compensates the CEO with shares, including the following issuances:

On January 23, 2023, one share of Preferred Stock Series A at a value of $1,000,000

On March 9, 2023, the Company issued 3,333 shares of Common Stock to the CEO for services of $3, or $0.001 per share. These shares were issued at par value, which was $200,000 (note: this was prior to the reverse split of 1:60,000, meaning that 200,000,000 shares were originally issued), as they were subsequently cancelled.

On December 22, 2023, the Company cancelled 3,717 shares of Common Stock previously issued to the CEO, at par value.

On June 20, 2024, the Company issued 1,999,967 shares of Common Stock to the CEO, at par value. The shares were issued at par value due to subsequent cancellation.

At August 31, 2024, the CEO held 2,000,001 shares of Common Stock and one share of Preferred Stock Series A.

Transactional Support Received from the CEO

The CEO, John Morgan, provides transactional and financial support for the Company by paying for certain items on behalf of the Company and being compensated subsequently.

As at August 31, 2024, the Company owed the CEO a total of $61,842, including a formal loan note with original value of $50,000 and accrued interest of $11,842 (see Note 7 Loans and Notes Payable). The loan note was due to be

repaid by September 7, 2023, and is, therefore, in default. There is no fixed schedule for repayment of the loan note. Payment will be made when the Company has sufficient cash flow.

As at August 31, 2023, the Company owed the CEO a total of $55,912, including a formal loan note with original value of $50,000 ($48,076 net of unamortized debt discount of $1,924) and accrued interest of $2,876 (see Note 7 Loans and Notes Payable), and an informal amount of $3,036.