Other Receivables |
Note
6 – Other Receivables
Other
receivables at May 31, 2022 and August 31, 2021 consisted of the following:
Schedule of Other Receivables
| |
May 31, | | |
August 31, | |
| |
2022 | | |
2021 | |
| |
| | |
| |
Notes receivable dated April
1, 2015 and amended on May 23, 2017; accrued interest at 8% per annum; secured by certain assets; due March 1, 2019. (repaid during
fiscal year 2022) | |
$ | - | | |
$ | 296,888 | |
Advance to corporation; accrues interest at
12% per annum; unsecured; due January 31, 2023, as amended | |
| 79,100 | | |
| 79,170 | |
Advance to corporation; accrues interest at
10% per annum after the first 60 days; unsecured; due May 1, 2023, as amended | |
| 225,924 | | |
| 225,924 | |
Advance to corporation; accrues interest at
12% per annum; secured by property and other assets of debtor; due August 1, 2022, as amended | |
| 508,613 | | |
| 509,063 | |
Advance to corporation;
accrues interest at 10% per annum; secured by assets of debtor; due September 1, 2022, as amended | |
| 395,500 | | |
| 395,850 | |
Total other receivables | |
| 1,209,137 | | |
| 1,506,895 | |
Current portion | |
| (1,209,137 | ) | |
| (814,157 | ) |
Long-term portion | |
$ | - | | |
$ | 692,738 | |
|