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Statement of Cash Flows (Tables)
12 Months Ended
Aug. 31, 2013
Supplemental Cash Flow Elements [Abstract]  
Supplemental Non-cash Investing and Financing Activities

For the year ended August 31, 2013, these supplemental non-cash investing and financing activities are summarized as follows:

Amount

On October 31, 2012, the Company entered into a note payable agreement to finance $10,404 of directors and officer’s insurance premiums.  The note bears interest at a rate of 9.27% per annum and was due in ten monthly installments of $1,085, including principal and interest, beginning on November 30, 2012.  $10,404 
      
On February 8, 2013, the Company recognized a loss on the conversion of a related party convertible note payable in the amount of $10,241.   10,241 
      
On May 13, 2013 the Company issued 1,000,000 shares as additional compensation for the issuance of a one year promissory note.  These shares were valued at $8,000, the closing price   8,000 
      
On August 1, 2013, the Company issued 1,000,000 four year warrants as additional consideration for the purchase of Angels of Mercy, Inc.  The value of these options, calculated using the Black-Scholes method were included in the purchase price of Angels of Mercy, Inc.   22,586 
      
On August 5, 2013 the Company issued 6,000,000 three year warrants for finder’s fees in connection with funds raised through a stock purchase agreement.  The value of these options calculated using the Black-Scholes method were recorded and interest and finance charges in our financial statements.   137,406 
      
       Total non-cash transactions from investing and financing activities.  $188,637 

 

 

 

For the year ended August 31, 2012, these supplemental non-cash investing and financing activities are summarized as follows:

Amount

On October 6, 2011, the Company converted $25,403 of principal and accrued interest into 635,069 shares of its common stock.  These shares were issued in October 2011.  $25,403 
The Company recognized induced conversion expense as a result of reducing the conversion price on non-related party notes converted during the first quarter of fiscal 2012.   25,402 
On October 6, 2011, the Company converted $71,128 of principal and accrued interest into 1,778,193 shares of its common stock.  This principal and interest was payable to our CEO, Anthony Silverman, a related party.  The shares were issued in October 2012.   71,128 
      
The Company recognized a loss on the conversion of related party notes during the first quarter of fiscal 2012.   70,000 
      
The Company recognized a discount on the $10,000 convertible promissory note issued to a related party on October 7, 2011.  The discount is related to a beneficial conversion feature issued in connection with this note.   10,000 
      
On October 31, 2011, the Company entered into a note payable agreement to finance $8,078 of directors and officer’s insurance premiums.  The note bears interest at a rate of 8.99% per annum and was due in nine monthly installments of $932, including principal and interest, beginning on November 30, 2011.   8,078 
      
On August 24, 2012, the Company converted $45,524 of principal and accrued interest into 2,276,182 shares of its common stock.  This principal and interest was payable to our CEO, Anthony Silverman, a related party.  The shares were issued in August 2012.   45,524 
      
The Company recognized a loss on the conversion of related party notes during the fourth quarter of fiscal 2012.   22,758 
      
       Total non-cash transactions from investing and financing activities.  $278,293