• Filing Date: 2019-01-11
  • Form Type: 10-Q
  • Description: Quarterly report
v3.10.0.1
Related Party
3 Months Ended
Nov. 30, 2018
Related Party Transactions [Abstract]  
Related Party

Note 6. Related Party

 

In October 2017 – November 30, 2018, the Company incurred a related party debt in the amount of $15,000 to an entity related to the legal custodian of the Company for professional fees . As of November 30, 2018, a balance of $6,700 remained outstanding.

 

In November 30, 2017 – November 30, 2018, the Company issued a $34,954 in multiple notes payable to an entity related to the legal custodian of the Company for funds loaned. The notes payable bear interest at an annual rate of 10% and are convertible to common shares of the Company at $0.0001 per share. On May 8, 2018, $13,000 of the principal balance on notes payable was converted to common stock. As of November 30, 2018, $21,954 of the principal balance remained outstanding on the notes payable and $1,404 in accrued interest.

 

In August 2018 – November 2018, the Company issued $15,956 in multiple notes payable to a legal custodian of the Company for funds loaned. The notes bear interest at an annual rate of 10% and are payable upon demand. As of November 30, 2018, $15,956 of the principal balance remained outstanding on the notes payable and $230 in accrued interest.