Seychelle Environmental (SYEV) 10-Q 9 Oct 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Aug. 31, 2015	Oct. 09, 2015
Document And Entity Information
Entity Registrant Name	SEYCHELLE ENVIRONMENTAL TECHNOLOGIES INC /CA
Entity Central Index Key	1,056,757
Document Type	10-Q
Document Period End Date	Aug. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--02-29
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		26,372,646
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,015

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Aug. 31, 2015	Feb. 28, 2015
ASSETS
Cash and cash equivalents	$ 1,687,564	$ 1,514,534
Accounts receivable, net of allowance for doubtful accounts and sales returns of $13,400	436,655	284,121
Related party receivables	22,407	12,601
Inventory, net	1,752,270	1,009,491
Deferred tax assets	116,829	629,838
Prepaid expenses, deposits, and other current assets	164,144	174,052
Total current assets	4,179,869	3,624,637
Property and equipment, net	193,820	162,107
Intangible assets, net	151,776	152,643
Deferred tax assets	611,314	611,314
Other assets	15,651	25,491
Total assets	5,152,430	4,576,192
Current Liabilities:
Accounts payable and accrued expenses	$ 190,320	238,009
Accrued legal and settlement fees		532,103
Customer deposits	$ 45,939	119,215
Capital lease obligation, current portion	11,413	5,639
Total current liabilities	247,672	894,966
Long term Liabilities:
Capital lease obligation, net of current	22,340	4,081
Total liabilities	$ 270,012	$ 899,047
STOCKHOLDERS' EQUITY
Preferred stock, 6,000,000 shares authorized, none issued or outstanding
Common stock $0.001 par value, 50,000,000 shares authorized,26,158,646 and 25,913,646 issued and outstanding at August 31, 2014 and February 28, 2014, respectively	$ 26,159	$ 25,914
Additional paid-in capital	8,675,056	8,457,603
Accumulated deficit	(3,818,797)	(4,806,372)
Total Stockholders' Equity	4,882,418	3,677,145
Total liabilities and stockholders' equity	$ 5,152,430	$ 4,576,192

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Aug. 31, 2015	Feb. 28, 2015
CURRENT ASSETS
Net of allowance for doubtful accounts	$ 13,400	$ 3,400
STOCKHOLDERS' EQUITY
Preferred stock, authorized shares	6,000,000	6,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized shares	50,000,000	50,000,000
Common stock, issued shares	26,158,646	25,913,646

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2015	Aug. 31, 2014
Condensed Consolidated Statements Of Income
Sales	$ 2,724,829	$ 767,216	$ 5,072,012	$ 1,874,514
Cost of sales	1,319,711	435,646	2,387,741	1,005,481
Gross profit	1,405,118	331,570	2,684,271	869,033
OPERATING EXPENSES
Selling, General, and Administrative Expenses	$ 602,371	659,165	$ 1,154,287	1,225,034
Archette legal expenses		199,823		268,263
Depreciation and Amortization	$ 20,395	15,815	$ 30,107	29,574
Total operating expenses	622,766	874,803	1,184,394	1,522,871
Income (Loss) from Operations	782,352	(543,233)	1,499,877	(653,838)
OTHER INCOME (EXPENSE)
Interest income	$ 39	1,111	228	2,771
Interest expense		(179)	$ 479	(448)
Other income (expense)	$ 404	(5,953)		2,539
Total other income (expense)	443	(5,021)	$ 707	4,862
Income (loss) before income tax benefit (expense)	782,795	(548,254)	1,500,584	(648,976)
Income tax benefit (expense)	(267,718)	205,666	(513,009)	243,660
Net Income (Loss)	$ 515,077	$ (342,588)	$ 987,575	$ (405,316)
BASIC INCOME (LOSS) PER SHARE	$ 0.02	$ (0.01)	$ 0.04	$ (0.02)
DILUTED INCOME (LOSS) PER SHARE	$ 0.02	$ (0.01)	$ 0.04	$ (0.02)
BASIC WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	26,158,646	25,903,646	26,158,646	25,891,146
DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	28,478,677	25,903,646	28,052,708	25,891,146

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Aug. 31, 2015	Aug. 31, 2014
OPERATING ACTIVITIES:
Net income (loss)	$ 987,575	$ (405,316)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	30,107	29,574
Stock-based compensation	$ 217,698	210,350
Provision for doubtful accounts		9,958
Deferred income tax expense (benefit)	$ 513,009	(243,460)
Changes in operating assets and liabilities:
Increase in accounts receivable	(152,534)	(17,240)
Increase in related party receivables	(9,806)	(7,008)
(Increase) decrease in inventory	(742,779)	15,890
(Increase) decrease in prepaid expenses, deposits and other assets	19,748	(23,640)
(Decrease) increase in accounts payable and accrued expenses	(47,689)	$ 51,375
Decrease in accrued legal and settlement fees	(532,103)
Decrease in customer deposits	(73,276)	$ (16,766)
Net Cash Provided By (Used In) Operating Activities	209,950	(396,283)
INVESTING ACTIVITIES:
Purchase of property and equipment	$ (34,953)	(33,918)
Purchase of intangible assets		(150,434)
Net Cash Used In Investing Activities	$ (34,953)	(184,352)
FINANCING ACTIVITIES:
Repayment of capital lease obligations	(1,967)	(2,012)
Net Cash Used in Financing Activities	(1,967)	(2,012)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	173,030	(582,647)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	1,514,534	2,971,825
CASH AND CASH EQUIVALENTS AT END OF PERIOD	1,687,584	$ 2,389,178
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Acquisition of equipment under capital leases	26,000
Cash paid for:
Interest	$ 479	$ 448
Income taxes

1. CONDENSED CONSOLIDATED FINAN

1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	6 Months Ended
	Aug. 31, 2015
Notes to Financial Statements
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	NOTE 1: CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The accompanying condensed consolidated financial statements have been prepared by Seychelle Environmental Technologies, Inc., and subsidiaries (the "Company") without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at August 31, 2015, and for all periods presented herein, have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended February 28, 2015. The results of operations for the periods ended August 31, 2015 and 2014 are not necessarily indicative of the operating results for the full fiscal years. The summary of significant accounting policies of the Company is presented to assist in understanding the Company's consolidated financial statements. The consolidated financial statements and notes are representations of the Company's management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of these condensed consolidated financial statements and the February 28, 2015 consolidated financials included in the 10-K filed on May 29, 2015. The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.

2. BASIC INCOME (LOSS) PER SHA

2. BASIC INCOME (LOSS) PER SHARE	6 Months Ended
	Aug. 31, 2015
Accounting Policies [Abstract]
BASIC INCOME (LOSS) PER SHARE	NOTE 2: BASIC INCOME (LOSS) PER SHARE Basic income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during each period presented. Diluted income (loss) per share is determined using the weighted average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents. In periods when losses are reported, the weighted average number of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive. The dilutive effect of outstanding stock options and warrants is reflected in diluted earnings per share by application of the treasury stock method. The denominator for diluted income (loss) per share for the three- and six- month period ended August 31, 2014 did not include warrants as they would have been anti-dilutive. During the three and six months ended August 31, 2015, 7,334,992 and 6,550,710 warrants, respectively, were excluded from the denominator for diluted income (loss) per share. For the six months ended August 31, 2015 2014 Numerator: Net income (loss) available to common shareholders $ 987,575 $ (405,316 ) Weighted average shares – basic 26,158,646 25,891,146 Net income (loss) per share – basic $ 0.04 $ (0.02 ) Dilutive effect of common stock equivalents: Warrants 1,894,062 - Weighted average shares – diluted 27,807,708 25,891,146 Net income (loss) per share – diluted $ 0.04 $ (0.02 ) For the three months ended August 31, 2015 2014 Numerator: Net income (loss) available to common shareholders $ 515,077 $ (342,588 ) Weighted average shares – basic 26,158,646 25,903,646 Net income (loss) per share – basic $ 0.02 $ (0.01 ) Dilutive effect of common stock equivalents: Warrants 2,320,031 - Weighted average shares – diluted 28,233,677 25,903,646 Net income (loss) per share – diluted $ 0.02 $ (0.01 )

3. COMMON STOCK PURCHASE WARRAN

3. COMMON STOCK PURCHASE WARRANTS	6 Months Ended
	Aug. 31, 2015
Notes to Financial Statements
COMMON STOCK PURCHASE WARRANTS	NOTE 3: COMMON STOCK PURCHASE WARRANTS Common Stock During the six month period ended August 31, 2015, 115,000 shares of restricted common stock were issued to employees and officers of the Company. Additionally, 100,000, 20,000, and 10,000 shares of restricted common stock were issued to TAM, vendors, and TAM's trustee, respectively. The shares were fully vested upon issuance. The value recorded in the accompanying condensed consolidated financial statements was based on the estimated fair value of the stock on the date of the grant and aggregated $83,000. During the six month period ended August 31, 2014, 50,000 shares of restricted stock were issued by the Company to an employee. The shares vest over a two year period, with 17,000 shares vested upon issue. The remaining shares vest 17,000 and 16,000 after one and two years, respectively. The value recorded in the accompanying condensed consolidated financial statements was based on the estimated fair value of the stock on the date of the grant. Warrants The Company has determined the estimated value of warrants granted using the Black-Scholes option pricing model. The amount of the expense charged to operations for warrants was $67,200 and $134,200 for the three and six month periods ended August 31, 2015, respectively, and $88,175 and $176,350 for the three and six month periods ended August 31, 2014, respectively. All outstanding warrants are expected to be vested in December 2015. A summary of warrant activity for the six months ended August 31, 2015 is as follows: Weighted- Average Warrants Exercise Outstanding Price Outstanding at February 28, 2015 8,407,221 0.21 Granted - - Exercised - - Forfeited (2,000,000 ) 0.21 Outstanding at August 31, 2015 6,407,221 0.21 Vested at August 31, 2015 5,766,498 0.21 Exercisable at August 31, 2015 5,766,498 0.21 The following table summarizes significant ranges of outstanding warrants as of August 31, 2015: Warrants Outstanding Warrants Exercisable Weighted Weighted Weighted Average Average Average Exercise Number Remaining Exercise Number Exercise Price Outstanding Life (Years) Price Outstanding Price $0.21 6,407,221 5.29 $0.21 5,766,498 $0.21

4. INVENTORY

4. INVENTORY	6 Months Ended
	Aug. 31, 2015
Notes to Financial Statements
INVENTORY	NOTE 4: INVENTORY The Company's inventory consisted of the following at August 31, 2015 and February 28, 2015: August 31, 2015 February 28, 2015 Raw materials $ 996,829 $ 536,302 Finished goods 795,441 513,189 1,792,270 1,049,491 Reserve for obsolete and slow moving inventory (40,000 ) (40,000 ) $ 1,752,270 $ 1,009,491

5. LINE OF CREDIT

5. LINE OF CREDIT	6 Months Ended
	Aug. 31, 2015
Notes to Financial Statements
LINE OF CREDIT	NOTE 5: LINE OF CREDIT As of February 28, 2015, the Company had a line of credit agreement totaling $500,000, with no outstanding borrowings as of February 28, 2015 or August 31, 2015. The line expired on September 1, 2015 (see Note 9).

6. CONCENTRATIONS

6. CONCENTRATIONS	6 Months Ended
	Aug. 31, 2015
Notes to Financial Statements
CONCENTRATIONS	NOTE 6: CONCENTRATIONS Sales to two customers accounted for 61% and 66%, respectively, of sales for the three and six month period ended August 31, 2015. Accounts receivable from these two customers amounted to $166,861 or 37% of accounts receivable as of August 31, 2015. Two other customers amounted to $194,500 or 43% of accounts receivable as of August 31, 2015. Sales to three customers accounted for 57% and 59% of sales for the three and six month periods ended August 31, 2014, respectively. Accounts receivable from these three customers amounted to $235,000 or 73% of accounts receivable as of August 31, 2014.

7. RELATED PARTY TRANSACTIONS

7. RELATED PARTY TRANSACTIONS	6 Months Ended
	Aug. 31, 2015
Notes to Financial Statements
RELATED PARTY TRANSACTIONS	NOTE 7: RELATED PARTY TRANSACTIONS During the three month periods ended August 31, 2015 and 2014, payments totaling $25,000 and $24,000, respectively, and during the six month periods ended August 31, 2015 and 2014, payments totaling $75,000 and $74,000, respectively, were made to TAM Irrevocable Trust ("TAM") for consulting services, in which Cari Beck, is a trustee as well as the daughter of the Company's President. During the three month periods ended August 31, 2015 and 2014, TAM purchased, on behalf of the Company, $208,000 and $0, respectively, of raw materials from a vendor with which it already had a business relationship. During the six month periods ended August 31, 2015 and 2014, TAM purchased, on behalf of the Company, $393,000 and $0, respectively, of raw materials, and paid $3,500 and $0, respectively, for related tooling to a vendor with which it already had a business relationship. The Company reimbursed TAM for these outlays in full during the six months ended August 31, 2015. During the six month period ending August 31, 2014, the Company paid $150,000 to TAM for purchase of intellectual property retained by TAM when the Company was organized in 1998.

8. COMMITMENTS AND CONTINGENCIE

8. COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Aug. 31, 2015
Notes to Financial Statements
COMMITMENTS AND CONTINGENCIES	NOTE 8: COMMITMENTS AND CONTINGENCIES The Company previously reported that it was involved in a case titled Letty Garcia v. Carl Palmer, Seychelle Environmental Technologies, Inc., et. al. brought in the Superior Court for the State of California, San Diego County District. This case has been transferred to the Orange County Superior Court for the State of California with additional hearings scheduled during the third quarter. We anticipate that it will be resolved this fiscal year and believe that Seychelle will prevail. In January 2012, the Company entered into a contract with a distributor in which it granted exclusive distribution rights for certain new product lines. Subsequently, there was a contract dispute that has resulted in a lawsuit titled Archette Wellness Group, dba Functional Water Technologies v. Seychelle Environmental Technologies, brought in the U.S. District Court, for the Central District of California, Southern Division. The Company believes it will prevail in this matter. Otherwise, as of August 31, 2014, we know of no other legal proceedings pending or threatened, or judgments entered against the Company or any of its directors or officers in their capacity as such.

9. SUBSEQUENT EVENTS

9. SUBSEQUENT EVENTS	6 Months Ended
	Aug. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9: SUBSEQUENT EVENTS On September 4, 2014, 10,000 shares of restricted stock were issued by the Company to an employee. All shares of restricted stock were fully vested upon issuance. On September 4, 2014, a prepayment totaling $50,000 was made to TAM for consulting services to be provided during the three months ending November 30, 2014.

2. BASIC INCOME (LOSS) PER SHAR

2. BASIC INCOME (LOSS) PER SHARE (Tables)	6 Months Ended
	Aug. 31, 2015
Accounting Policies [Abstract]
Basic and Diluted income (loss) per share	For the six months ended August 31, 2015 2014 Numerator: Net income (loss) available to common shareholders $ 987,575 $ (405,316 ) Weighted average shares – basic 26,158,646 25,891,146 Net income (loss) per share – basic $ 0.04 $ (0.02 ) Dilutive effect of common stock equivalents: Warrants 1,894,062 - Weighted average shares – diluted 27,807,708 25,891,146 Net income (loss) per share – diluted $ 0.04 $ (0.02 ) For the three months ended August 31, 2015 2014 Numerator: Net income (loss) available to common shareholders $ 515,077 $ (342,588 ) Weighted average shares – basic 26,158,646 25,903,646 Net income (loss) per share – basic $ 0.02 $ (0.01 ) Dilutive effect of common stock equivalents: Warrants 2,320,031 - Weighted average shares – diluted 28,233,677 25,903,646 Net income (loss) per share – diluted $ 0.02 $ (0.01 )

3. COMMON STOCK PURCHASE WARR16

3. COMMON STOCK PURCHASE WARRANTS (Tables)	6 Months Ended
	Aug. 31, 2015
Common Stock Purchase Warrants Tables
Summary of warrant activity	Weighted- Average Warrants Exercise Outstanding Price Outstanding at February 28, 2015 8,407,221 0.21 Granted - - Exercised - - Forfeited (2,000,000 ) 0.21 Outstanding at August 31, 2015 6,407,221 0.21 Vested at August 31, 2015 5,766,498 0.21 Exercisable at August 31, 2015 5,766,498 0.21
Significant ranges of outstanding warrants	Warrants Outstanding Warrants Exercisable Weighted Weighted Weighted Average Average Average Exercise Number Remaining Exercise Number Exercise Price Outstanding Life (Years) Price Outstanding Price $0.21 6,407,221 5.29 $0.21 5,766,498 $0.21

4. INVENTORY (Tables)

4. INVENTORY (Tables)	6 Months Ended
	Aug. 31, 2015
Inventory Tables
Inventory	The Company's inventory consisted of the following at August 31, 2015 and February 28, 2015: August 31, 2015 February 28, 2015 Raw materials $ 996,829 $ 536,302 Finished goods 795,441 513,189 1,792,270 1,049,491 Reserve for obsolete and slow moving inventory (40,000 ) (40,000 ) $ 1,752,270 $ 1,009,491

2. BASIC INCOME (LOSS) PER SH18

2. BASIC INCOME (LOSS) PER SHARE - (Details) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2015	Aug. 31, 2014
Numerator:
Net Income (Loss) available to common shareholders	$ 515,077	$ (342,588)	$ 987,575	$ (405,316)
Weighted average shares, basic	26,158,646	25,903,646	26,158,646	25,891,146
Net income (loss) per share, basic	$ 0.02	$ (0.01)	$ 0.04	$ (0.02)
Dilutive effect of common stock equivalents:
Warrants	$ 2,320,031		$ 1,894,062
Weighted average shares, diluted	28,233,677	25,903,646	27,807,708	25,891,146
Net income (loss) per share, diluted	$ 0.02	$ (0.01)	$ 0.04	$ (0.02)

3. COMMON STOCK PURCHASE WARR19

3. COMMON STOCK PURCHASE WARRANTS (Details) - 6 months ended Aug. 31, 2015 - $ / shares	Total	Total
Common Stock Purchase Warrants Details
Warrants, Granted
Warrants, Exercised
Warrants, Forfeited	(2,000,000)
Warrants, Outstanding at August 31, 2015	6,407,221
Vested at August 31, 2015		5,766,498
Exercisable at August 31, 2015		5,766,498
Warrants Outstanding		8,407,221
Remaining Life in years of Warrants Outstanding	6 years 2 months 6 days
Warrants Weighted Average Exercise Price per Share	$ 0.21	$ 0.21
Warrants Weighted Average Exercise Price per Share, Outstanding at August 31, 2015	$ 0.21
Weighted Average Exercise Price Warrants Exercisable at August 31, 2015		$ 0.21

4. INVENTORY (Details)

4. INVENTORY (Details) - USD ($)	Aug. 31, 2015	Feb. 28, 2015
Inventory Details
Raw materials	$ 996,829	$ 536,302
Finished goods	795,441	513,189
Inventory	1,792,270	1,049,491
Reserve for obsolete and slow moving inventory	(40,000)	(40,000)
Inventory, Net	$ 1,752,270	$ 1,009,491

2. BASIC INCOME (LOSS) PER SH21

2. BASIC INCOME (LOSS) PER SHARE (Details Narrative) - shares	3 Months Ended	6 Months Ended
	Aug. 31, 2015	Aug. 31, 2015
Accounting Policies [Abstract]
Warrants excluded from the diluted income (loss) per share	7,334,992	6,550,710

3. COMMON STOCK PURCHASE WARR22

3. COMMON STOCK PURCHASE WARRANTS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2015	Aug. 31, 2014
Common Stock Purchase Warrants Details Narrative
Expense charged to operations for warrants	$ 67,200	$ 85,711	$ 134,200	$ 174,200

5. LINE OF CREDIT (Details Narr

5. LINE OF CREDIT (Details Narrative) - USD ($)	3 Months Ended
	Aug. 31, 2014	Aug. 31, 2015	Feb. 28, 2015
Line Of Credit Details Narrative
Available Line of Credit		$ 500,000	$ 500,000
Company borrowings against line of credit		$ 0	$ 0
Expiration of line of credit	Sep. 1, 2015

6. CONCENTRATIONS (Details Narr

6. CONCENTRATIONS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2015	Aug. 31, 2014
Concentrations Details Narrative
Percentage of sales attributable to two customers	61.00%		66.00%
Amount of accounts receivable from two customers	$ 166,861		$ 166,861
Percentage of accounts recievable from two other customers	$ 194,500
Percentage of sales attributable to two other customers	43.00%
Percentage of sales attributable to three customers		57.00%		59.00%
Amount of accounts receivable from three customers		$ 235,000
Percentage of accounts receivable from three customers		73.00%

7. RELATED PARTY TRANSACTIONS (

7. RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2015	Aug. 31, 2014
Related Party Transactions Details Narrative
Payments to Irrevocable Trust for consulting services in which Cari Beck is a trustee as well as the daughter of the Company's President	$ 25,000	$ 24,000	$ 75,000	$ 74,000
Puchase of raw materials by TAM	$ 208,000	$ 0	393,000	0
Payment for intellectual property retained by TAM when company was organized in 1998			$ 393,000	$ 150,000

9. SUBSEQUENT EVENTS (Details N

9. SUBSEQUENT EVENTS (Details Narrative)	3 Months Ended
	Nov. 30, 2014USD ($)shares
Subsequent Events [Abstract]
Restricted Stock Issued During Period	10,000
Prepayment to TAM for consulting services | $	$ 50,000