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Restatement
9 Months Ended
Aug. 31, 2016
Accounting Changes and Error Corrections [Abstract]  
Restatement

Note 14 - Restatement

 

The Company restated its financial statements for the nine months ended August 31, 2015, to correct certain accounting errors related to revenue recognition. The table below summarizes the impact of the restatement described above on financial information previously reported on the Company’s Forms 10-Q for the period ended August 31, 2015:

 

   Original  Adjustments  As Restated
Balance Sheet at 8/31/15:               
                
Deposits  $—     $70,000   $70,000 
                
Income Statement for Three Months Ended 8/31/15:               
                
Related party revenues   5,000    (5,000)   —   
Net income   520,700    (5,000)   515,700 
Earnings per share   0.00    0.00    0.00 
Earnings per share - diluted   0.00    0.00    0.00 
                
Income Statement for Nine Months Ended 8/31/15:               
                
Related party revenues   70,000    (70,000)   —   
Net income   84,309    (70,000)   14,309 
Earnings per share   0.00    0.00    0.00 
Earnings per share - diluted   0.00    0.00    0.00 
                
Cash Flow Statement for Nine Months Ended 8/31/15:               
                
Net income   84,309    (70,000)   14,309