Related Party Transactions |
12 Months Ended |
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Aug. 31, 2024 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 3 – Related Party Transactions
Due to related parties
Amounts loaned to the Company by stockholders and officers of the Company are payable upon demand and unsecured. At August 31, 2024 and 2023, the amount due to related parties was $356,928 and $533,001, respectively. At August 31, 2024, $275,351 was non-interest bearing, $ bears interest at 6% per annum, and $81,577 bears interest at 13.75% per annum. At August 31, 2023, $451,137 was non-interest bearing, $21,267 bears interest at 6% per annum, and $60,597 bears interest at 13.75% per annum.
The remaining principal balance of debentures due to related parties at August 31, 2024 and 2023 was $913,598 and $916,824, respectively.
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