Dominovas Energy (DNRG) 10-Q 11 Apr 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Nov. 30, 2013	Apr. 08, 2014
Document and Entity Information	'	'
Entity Registrant Name	'Western Standard Energy Corp.	'
Document Type	'10-Q	'
Document Period End Date	30-Nov-13	'
Amendment Flag	'false	'
Entity Central Index Key	'0001343254	'
Current Fiscal Year End Date	'--08-31	'
Entity Common Stock, Shares Outstanding	'	49,495,732
Entity Filer Category	'Smaller Reporting Company	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Well-known Seasoned Issuer	'No	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

BALANCE_SHEETS

BALANCE SHEETS (USD $)	Nov. 30, 2013	Aug. 31, 2013
CURRENT ASSETS	'	'
Cash	$31,281	$0
Prepaids	3,156	3,156
TOTAL CURRENT ASSETS	34,437	3,156
LONG TERM ASSETS	'	'
Investment	198,788	0
TOTAL ASSETS	233,225	3,156
CURRENT LIABILITIES	'	'
Bank indebtedness	0	76
Accounts payable and accrued liabilities	114,621	80,964
Notes payable	208,000	150,000
Convertible debenture	124,392	128,289
TOTAL CURRENT LIABILITIES	447,013	359,329
STOCKHOLDERS' DEFICIT	'	'
COMMON STOCK Authorized: 200,000,000 common shares with par value of $0.001 Issued and outstanding: 33,941,993 and 33,941,993 common shares respectively	33,942	33,942
ADDITIONAL PAID IN CAPITAL	4,818,940	4,818,940
OBLIGATION TO ISSUE SHARES	348,788	150,000
DEFICIT ACCUMULATED DURING EXPLORATION STAGE	-5,415,458	-5,359,055
TOTAL STOCKHOLDERS' DEFICIT	-213,788	-356,173
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$233,225	$3,156

Balance_Sheets_Parentheticals

Balance Sheets Parentheticals (USD $)	Nov. 30, 2013	Aug. 31, 2013
Parentheticals	'	'
Common Stock, par value	$0.00	$0.00
Common Stock, shares authorized	200,000,000	200,000,000
Common Stock, shares issued	33,941,993	33,941,993
Common Stock, shares outstanding	33,941,993	33,941,993

STATEMENTS_OF_OPERATIONS

STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		121 Months Ended
	Nov. 30, 2013	Nov. 30, 2012	Nov. 30, 2013
EXPENSES	'	'	'
Advertising and promotion	$0	$0	$48,670
Audit and accounting fees	19,435	11,075	380,174
Depreciation	0	0	12,280
Consulting fees and expenses	21,000	55,000	249,264
Corporate finance fee	0	47,250	47,250
Due diligence	0	0	35,761
Foreign exchange loss	1,881	0	27,457
Gain on disposal of oil and gas properties	0	0	-5,810
Gain on settlement of debt	0	0	-104,992
Interest expense	1,104	2,060	83,652
Interest income	0	0	-3,716
Investor communications and transfer agent	0	3,186	526,567
Legal fees	0	18,804	258,105
Loss on settlement of debt	0	0	40,000
Office and general administration	11,983	17,907	252,388
Product development	0	0	876,451
Salaries and management fees	0	0	1,283,083
Stock-based compensation	0	0	104,366
Travel and entertainment	1,000	0	208,891
Web and graphic design	0	0	129,716
Write-down of assets	0	0	-34,650
Write-down of oil and gas property	0	0	1,000,551
TOTAL OPERATING EXPENSES	56,403	155,282	5,415,458
NET LOSS	($56,403)	($155,282)	($5,415,458)
LOSS PER SHARE - BASIC AND DILUTED	$0	($0.02)	'
WEIGHTED AVERAGE NUMBER OF COMMON STOCK OUTSTANDING - BASIC AND DILUTED	33,941,993	6,717,108	'

STATEMENTS_OF_CASH_FLOWS

STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended		121 Months Ended
	Nov. 30, 2013	Nov. 30, 2012	Nov. 30, 2013
CASH FLOW FROM OPERATING ACTIVITIES	'	'	'
Net loss	($56,403)	($155,282)	($5,415,458)
Non-cash items included in net loss:	'	'	'
Interest expense	1,103	2,061	35,183
Impairment of oil and gas properties	0	0	960,551
Gain on disposal of oil and gas properties	0	0	-5,809
Write-down of accounts payable	0	0	30,374
Write-down of assets	0	0	-4,276
Write-down of oil and gas properties	0	0	40,000
Depreciation	0	0	12,280
Gain on settlement of debt	0	0	-104,992
Stock issued for service	0	0	104,366
Loss on settlement of debt	0	0	40,000
Changes in non-cash working capital	'	'	'
Receivables	0	0	-1,070
Prepaid expenses	0	-6,311	28,494
Accounts payable and accrued liabilities	33,657	31,493	231,798
NET CASH USED IN OPERATING ACTIVITIES	-21,643	-128,039	-4,048,559
INVESTING ACTIVITIES	'	'	'
Purchase of equipment	0	0	-20,287
Expenditures on oil and gas properties	0	0	-703,242
Proceeds on sale of oil and gas properties	0	0	38,500
NET CASH USED IN INVESTING ACTIVITIES	0	0	-685,029
FINANCING ACTIVITIES	'	'	'
Advances from related parties	0	0	1,307,771
Notes payable	58,000	0	268,000
Issuance of common shares for cash	0	158,307	2,843,462
Convertible debt	-5,000	0	-6,000
Net cash acquired on recapitalization	0	0	351,636
NET CASH FROM FINANCING ACTIVITIES	53,000	158,307	4,764,869
INCREASE IN CASH	31,357	36,518	31,281
Cash, beginning	-76	0	0
CASH, ENDING	31,281	36,518	31,281
CASH PAID FOR:	'	'	'
Interest	0	0	34,382
Income tax	0	0	0
NON-CASH FINANCING AND INVESTING ACTIVITIES	'	'	'
Forgiveness of debt	0	0	24,000
Loans settled with oil and gas property interest	0	0	214,138
Loans converted to common shares	0	0	879,842
Oil and gas property purchased for common shares	$0	$0	$450,000

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Nov. 30, 2013
BASIS OF PRESENTATION	'
BASIS OF PRESENTATION	'
	1. BASIS OF PRESENTATION
	The  following  interim  unaudited  financial  statements  have been prepared in
	accordance  with United States  generally  accepted  accounting  principles  for
	interim  financial  information  and  with  the  rules  and  regulations  of the
	Securities  and  Exchange  Commission   ("SEC").   Accordingly  these  financial
	statements do not include all of the disclosures  required by generally accepted
	accounting principles for complete financial statements. These interim unaudited
	financial  statements  should be read in conjunction with the Company's  audited
	financial  statements  for the year ended  August 31,  2013.  In the  opinion of
	management,  the interim unaudited financial statements furnished herein include
	all adjustments,  all of which are of a normal recurring nature, necessary for a
	fair statement of the results of the interim period presented. Operating results
	for the  three  month  period  ended  November  30,  2013  are  not  necessarily
	indicative  of the results that may be expected  for the year ending  August 31,
	2014
	On November  29,  2013,  the Company  acquired an  investment  of 41% of Pro Eco
	Energy Ltd.  ("Pro Eco") in  exchange  for  4,000,000  of the  Company's  common
	shares.  Pro Eco is a private company located in Summerland,  B.C, Canada in the
	business of providing energy  efficient and  environmentally  friendly  heating,
	ventilation and air conditioning ("HVAC") systems for commercial buildings.

RECENT_ACCOUNTING_PRONOUNCEMEN

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Nov. 30, 2013
RECENT ACCOUNTING PRONOUNCEMENTS	'
RECENT ACCOUNTING PRONOUNCEMENTS	'
	2. RECENT ACCOUNTING PRONOUNCEMENTS
	Recent  pronouncements  with future effective dates are either not applicable or
	are not expected to be significant to the financial statement of the Company.

CONVERTIBLE_DEBENTURE

CONVERTIBLE DEBENTURE	3 Months Ended
	Nov. 30, 2013
CONVERTIBLE DEBENTURE	'
CONVERTIBLE DEBENTURE	'
	3. CONVERTIBLE DEBENTURE
	On  December  22,  2009,  the  Company  entered  into a loan  agreement  with an
	individual and a corporation  (collectively  "the Lenders")  whereby the Company
	agreed to issue a note  payable in exchange  for  proceeds of $60,000.  The note
	bears  interest  at 11% per annum,  secured by the assets of the  Company and is
	payable on demand. Between January 1, 2010 and August 31, 2012, the Lenders paid
	for  $157,791  in expenses  on behalf of the  Company.  This amount had the same
	terms as the note  payable.  During the year ended August 31, 2013,  the Company
	converted the $3,125 of the debt owing to the Lenders to 2,500,000 shares of the
	Company.
	On October 29,  2012,  the  remaining  debt of  $250,000  was  converted  into a
	convertible debenture (the "Debenture"). The Debenture is convertible, only upon
	default, into shares of the Company's common stock equal in number to 50% of the
	total  issued  and  outstanding  common  stock  of the  Company  at the  time of
	conversion.  The  Company  has also  agreed to  register  the shares that may be
	convertible  under the Debenture.  The Debenture matured on the earlier of April
	1, 2013 or the 90th day following the Company's  receipt of Securities  Exchange
	Commission  ("SEC")  approval of the  Registration  statement.  The Debenture is
	unsecured and does not bear interest.
	On May 22, 2013, the Company entered into a securities  purchase  agreement with
	the  Lenders.  Under this  agreement,  the  Debenture  was  cancelled  and a new
	convertible  debenture (the "New  Debenture")  in the amount of CDN$140,000  was
	issued to the Lenders. The New Debenture is also convertible, only upon default,
	into shares of the  Company's  common  stock equal in number to 50% of the total
	issued and  outstanding  Common Stock of the Company at the time of  conversion.
	The New Debenture is unsecured and matures on May 15, 2014. The Company also has
	to deliver  600,000 common shares of the Company to the Lenders by May 15, 2014.
	As at  November  30,  2013,  the  Company  has not yet  issued the shares to the
	Lenders. The fair value of the New Debenture as at November 30, 2013 is $124,392
	using the effective interest rate of 11%.

COMMON_STOCK

COMMON STOCK	3 Months Ended
	Nov. 30, 2013
COMMON STOCK	'
COMMON STOCK	'
	4. COMMON STOCK
	Authorized: 200,000,000 common shares.
	On April  14,  2010,  the  Company  adopted a stock  option  plan  allowing  the
	Company's directors to grant up to 5,000,000 stock options pursuant to the terms
	and conditions of the stock option plan. As at November 30, 2013 no options have
	been granted.
	On November 12, 2012,  the Company issued  30,769,857  shares of common stock at
	$0.00125 per share for gross proceeds of $38,462.
	On November 27, 2012,  the Company  issued  480,000  common  shares at $0.25 per
	share for gross proceeds of $120,000.
	On November 12, 2012,  the Company  issued  2,500,000  shares of common stock in
	exchange for the conversion of $3,125 of debt (Note 3).
	On November 29, 2013,  the Company  acquired an  investment of 41% of Pro Eco in
	exchange for 4,000,000 of the Company's common shares.  As at November 30, 2013,
	the shares have not yet been issued and the fair value of the shares of $198,788
	has been recorded as an obligation to issue shares (Note 7).

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Nov. 30, 2013
RELATED PARTY TRANSACTIONS	'
RELATED PARTY TRANSACTIONS	'
	5. RELATED PARTY TRANSACTIONS
	During the three months ended  November 30, 2013, the Company  incurred  $15,000
	(November 30, 2012 - $40,000) in consulting  fees to a relative of the President
	of the Company.  As at November 30, 2013,  $37,500 (2012 - $25,000) owing to the
	related  party is  included  in  accounts  payable.  The  amount  is  unsecured,
	non-interest bearing and due on demand.
	During the three months ended  November 30, 2013, the Company  incurred  $15,000
	(November 30, 2012 - $Nil) in accounting  fees to an officer of the Company.  As
	at November  30,  2013,  $63,317  (2012 - $Nil)  owing to the  related  party is
	included in accounts payable. The amount is unsecured,  non-interest bearing and
	due on demand.
	As at November  30,  2013,  in $163,000  (2012 - $125,000)  and $45,000  (2012 -
	$25,000)  in notes  payable  were owing to a relative  of the  President  of the
	Company  and  to  an  officer  of  the  Company,  respectively.  The  notes  are
	non-interest bearing, unsecured and due on demand.

COMMITMENTS

COMMITMENTS	3 Months Ended
	Nov. 30, 2013
COMMITMENTS	'
COMMITMENTS	'
	6. COMMITMENTS
	The Company  entered into a lease agreement on January 1, 2013 for a term of two
	years.  Under the  agreement,  the Company is  committed  to rent  payments of a
	minimum of $1,779 per month.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Nov. 30, 2013
SUBSEQUENT EVENTS	'
SUBSEQUENT EVENTS	'
	7. SUBSEQUENT EVENTS
	On December 1, 2013,  the Company  entered  into a services  agreement  with the
	President of the  Company.  Under the  agreement,  the  President  will serve as
	President  and director for  consideration  of $500 per month.  The Company also
	issued 2,000,000 shares of the Company's common stock to the President under the
	agreement.  The agreement will continue indefinitely unless terminated by either
	party on an earlier date.
	On December 1, 2013,  the Company  entered into a consulting  agreement  with an
	officer of the Company. Under the agreement, the officer will provide consulting
	services  for  consideration  of $8,000  per  month.  The  Company  also  issued
	1,000,000  shares  of the  Company's  common  stock  to the  officer  under  the
	agreement.  The agreement  will cease on November 30, 2016 unless  terminated by
	either party on an earlier date.
	On December 1, 2013,  the Company  entered  into a consulting  agreement  with a
	relative of the  President of the Company.  Under the  agreement,  the President
	will provide  consulting  services for  consideration  of $8,000 per month.  The
	Company  also  issued  1,000,000  shares of the  Company's  common  stock to the
	related party under the agreement. The agreement will cease on November 30, 2016
	unless terminated by either party on an earlier date.
	On  December  2, 2013,  the  Company  entered  into an  agreement  to acquire an
	additional 8.25% interest in Pro Eco in exchange for the following payments:
	*    $10,000 due on December 2, 2013 (paid);
	*    $10,000 due December 31, 2013 (unpaid);
	*    $10,000 due January 31, 2014 (unpaid); and
	*    $10,000 due February 28, 2014. On December 4, 2013, the Company issued
	the 4,000,000 shares for the acquisition of 41% of Pro Eco (Note 4).
	On December 9, 2013, the Company issued 3,016,666 shares at $0.025 per share for
	gross proceeds of $75,417.
	On January 22, 2014, the Company issued  1,285,000 shares at $0.01 per share for
	gross proceeds of $12,850.
	On  February  20,  2014,  the  Company   entered  into  an  agreement  with  the
	shareholders of Dominovas Energy LLC  ("Dominovas") an energy solutions  company
	and developer of utility sized fuel cell systems to acquire all the  outstanding
	shares of Dominovas.  In  consideration,  the Company issued  45,000,000  common
	shares to the shareholders of Dominovas.

NOTE_PAYABLE_TRANSACTIONS_Deta

NOTE PAYABLE TRANSACTIONS (Details) (USD $)	Aug. 31, 2013	Dec. 22, 2009
NOTE PAYABLE TRANSACTIONS:	'	'
Note payable in exchange for proceeds	'	$60,000
Interest rate on note payable	'	11.00%
Converted debt owing to the Lenders	$3,125	'
Debt converted into shares	2,500,000	'

NOTE_PAYABLES_TRANSACTION_DURI

NOTE PAYABLES TRANSACTION DURING THE PERIOD (Details) (USD $)	32 Months Ended
	Aug. 31, 2012
NOTE PAYABLES TRANSACTION DURING THE PERIOD:	'
Expenses paid by lenders	$157,791

CONVERTIBLE_DEBENTURE_TRANSACT

CONVERTIBLE DEBENTURE TRANSACTIONS (Details) (USD $)	Nov. 30, 2013	22-May-13	Oct. 29, 2012
CONVERTIBLE DEBENTURE TRANSACTIONS:	'	'	'
Issued to the Lenders a convertible debenture	'	'	$250,000
New convertible debenture in the amount of CDN issued to the Lenders	'	140,000	'
Deliver common shares to each of lenders	'	600,000	'
Recorded a loss on the extinguishment of debt	40,000	'	'
Fair value of new debenture	$124,392	'	'

Common_Stock_Shares_Details

Common Stock Shares (Details) (USD $)	Nov. 30, 2013	Nov. 27, 2012	Nov. 12, 2012	Apr. 14, 2010
COMMON STOCK SHARES:	'	'	'	'
Authorized common shares	200,000,000	'	'	'
Stock options granted pursuant to the stock option plan	'	'	'	5,000,000
Issued shares of common stock	'	'	2,500,000	'
Shares of common stock in exchange for the conversion of debt	'	'	$3,125	'
Shares of common stock issued	'	'	30,769,857	'
Shares of common stock in exchange for conversion of debt	'	'	38,462	'
Shares of common stock in exchange per share	'	'	$0.00	'
Issued common shares	'	480,000	'	'
Common shares at per share	'	$0.25	'	'
Share for gross proceeds	'	120,000	'	'
Fair value of the shares recorded as an obligation to issue shares	$198,788	'	'	'

RELATED_PARTY_TRANSACTIONS_AS_

RELATED PARTY TRANSACTIONS AS FOLLOWS (Details) (USD $)	3 Months Ended
	Nov. 30, 2013	Nov. 30, 2012
RELATED PARTY TRANSACTIONS AS FOLLOWS:	'	'
Incurred in consulting fees	$15,000	$40,000
Incurred in accounting fees	15,000	0
Issued in notes payable to a relative	75,000	125,000
Issued in notes payable to an officer	45,000	25,000
Owing to the related party included in accounts payable	37,500	25,000
Owing to the related party	$63,317	$0

COMMITMENTS_TRANSACTIONS_Detai

COMMITMENTS TRANSACTIONS (Details) (USD $)	Jan. 01, 2013
COMMITMENTS TRANSACTIONS:	'
Rent payments minimum per month	$1,779

SUBSEQUENT_EVENTS_CONSISTS_OF_

SUBSEQUENT EVENTS CONSISTS OF THE FOLLOWING (Details) (USD $)	Feb. 20, 2014	Jan. 22, 2014	Dec. 09, 2013	Dec. 04, 2013	Dec. 01, 2013
SUBSEQUENT EVENTS CONSISTS OF THE FOLLOWING:	'	'	'	'	'
Services agreement with President and director for consideration per month	'	'	'	'	$500
Common shares issued to the President under the agreement	'	'	'	'	2,000,000
Consulting agreement with an officer of the Company for consideration per month	'	'	'	'	8,000
Consulting agreement with relative of the President of the Company for consideration per month	'	'	'	'	8,000
Issued shares of the Company's common stock to the related party under the agreement	'	'	'	'	1,000,000
Issued shares for the acquisition of 41% of Pro Eco	'	'	'	4,000,000	'
Issued shares for gross proceeds	'	$12,850	$75,417	'	'
Issued common shares to the shareholders of Dominovas	45,000,000	'	'	'	'