Infinity Augmented Reality (ALSO) 10-Q 11 Jul 14 2014 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	31-May-14	Jul. 09, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'Infinity Augmented Reality, Inc.	'
Entity Central Index Key	'0001421538	'
Current Fiscal Year End Date	'--08-31	'
Entity Filer Category	'Smaller Reporting Company	'
Trading Symbol	'also	'
Entity Common Stock, Shares Outstanding	'	94,960,687
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-May-14	'
Document Fiscal Period Focus	'Q3	'
Document Fiscal Year Focus	'2014	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	31-May-14	Aug. 31, 2013
Current Assets	'	'
Cash and cash equivalents	$404,507	$431,760
Convertible note receivable	'	50,000
Prepaid expenses and other receivables	66,093	21,355
Total current assets	470,600	503,115
Leasehold improvements and equipment, net	137,626	126,108
Security deposit and other long-term receivables	98,981	86,272
Investment in Meta Company	50,000	'
Noncurrent assets of discontinued operations	145,781	145,781
TOTAL ASSETS	902,988	861,276
Current Liabilities	'	'
Accounts payable and accrued expenses	177,951	190,620
Interest payable	35,134	3,906
Current liabilities of discontinued operations	1,136,000	955,978
Total current liabilities	1,349,085	1,150,504
Convertible debentures, net of debt discount	1,398,001	128,327
TOTAL LIABILITIES	2,747,086	1,278,831
COMMITMENTS AND CONTINGENT LIABILITIES	'	'
STOCKHOLDERS' DEFICIT	'	'
Common stock ($0.00001 par value; 500,000,000 authorized; 94,960,687 issued and 95,316,155 outstanding) (August 31, 2013 - 93,584,759 issued and 93,229,291 outstanding)	953	936
Additional paid in capital	62,323,736	57,938,675
Treasury stock, at cost (355,468 shares of common stock)	-49,766	-49,766
Accumulated deficit	-64,091,766	-58,305,978
Accumulated other comprehensive loss	-27,255	-1,422
Total Stockholders' Deficit	-1,844,098	-417,555
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$902,988	$861,276

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	31-May-14	Aug. 31, 2013
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	94,960,687	93,584,759
Common stock, shares outstanding	95,316,155	93,229,291
Treasury stock	355,468	355,468

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
	31-May-14	31-May-13	31-May-14	31-May-13
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]	'	'	'	'
Research and Development expenses	($221,200)	'	($1,050,691)	'
Marketing expenses	-14,641	'	-110,820	'
General and administrative expenses	-1,906,334	-5,075,010	-3,691,181	-5,957,683
Total Operating expenses	-2,142,175	-5,075,010	-4,852,692	-5,957,683
Other income (expense)	'	'	'	'
Foreign exchange gain	4,053	'	23,937	'
Interest expense	-223,002	-9,426	-545,749	-9,426
Loss from continuing operations before income tax	-2,361,124	-5,084,436	-5,374,504	-5,967,109
Provision for income tax	'	'	'	-190,652
Loss from continuing operations	-2,361,124	-5,084,436	-5,374,504	-6,157,761
Loss from discontinued operations (including loss on disposal of life settlement contracts of $0 and $8,438,584 for the three months and nine months ended May 31, 2013), respectively, net of tax	-296,319	'	-411,284	-4,318,440
Net loss	-2,657,443	-5,084,436	-5,785,788	-10,476,201
Basic and diluted loss per common share	'	'	'	'
Continuing operations	($0.03)	($0.05)	($0.06)	($0.06)
Discontinued operations	'	'	'	($0.04)
Net loss per common share	($0.03)	($0.05)	($0.06)	($0.10)
Basic weighted average shares outstanding	100,929,777	98,225,803	100,026,230	98,380,260
Diluted weighted average shares outstanding	100,929,777	98,225,803	100,026,230	98,380,260
Net loss	-2,657,443	-5,084,436	-5,785,788	-10,476,201
Foreign currency translation adjustments	-8,601	'	-25,833	'
Comprehensive loss	($2,666,044)	($5,084,436)	($5,811,621)	($10,476,201)

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) (USD $)	3 Months Ended	9 Months Ended
	31-May-13	31-May-13
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]	'	'
Loss on disposal of life settlement contracts	$0	$8,438,584

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
	31-May-14	31-May-13
OPERATING ACTIVITIES	'	'
Net loss	($5,785,788)	($10,476,201)
Loss from discontinued operations	411,284	4,318,440
Adjustments to reconcile net loss to net cash (used in) provided by operations	'	'
Amortization of debt discount	490,139	6,466
Stock-based compensation	1,843,787	4,477,941
Foreign exchange gain on investment in subsidiary	-23,937	'
Stock forfeited by stockholders to settle payment of withholding tax on behalf of such stockholders	'	-5,645
Payment-in-kind interest on shareholders loan	'	2,543
Loss on disposition of equipment	29,708	'
Issuance of stock for in-process research and development	26,110	'
Depreciation and amortization	40,413	17,965
Deferred rent	'	19,977
Deferred income taxes	'	190,652
Changes in operating assets and liabilities:	'	'
Prepaid expenses and other receivables	-44,047	10,610
Security deposit and long term receivables	-9,246	'
Accounts payable and accrued expenses	-16,243	-101,984
Interest payable	31,228	417
Net cash used in operating activities- continuing operations	-3,006,592	-1,538,819
Net cash (used in) provided by operating activities- discontinued operations	-231,263	-6,655,209
Net cash (used in) provided by operating activities	-3,237,855	-8,194,028
INVESTING ACTIVITIES	'	'
Payment for purchase of convertible note	'	'
Proceeds received from sale of equipment	'	'
Purchase of leasehold improvements and equipment	-77,392	'
Net cash used in investing activities- continuing operations	-77,392	'
Net cash provided by investing activities- discontinued operations	'	9,756,718
Net cash (used in) provided by investing activities	-77,392	9,756,718
FINANCING ACTIVITIES	'	'
Proceeds from convertible debentures	3,130,000	625,000
Proceeds of Short term loans	443,660	'
Repayments of Short term loans	-443,660	'
Proceeds from exercise of stock options	164,717	'
Proceeds from shareholder loan	'	200,000
Net cash provided by financing activities- continuing operations	3,294,717	825,000
Net cash (used in) provided by financing activities- discontinued operations	'	-2,300,000
Net cash (used in) provided by financing activities	3,294,717	-1,475,000
Effect of exchange rate on cash and cash equivalents	-6,723	'
Change in cash and cash equivalents	-27,253	87,690
Cash and cash equivalents, beginning	431,760	233,050
Cash and cash equivalents of continuing operations, ending	404,507	320,740
Supplemental disclosure of cash flow information:	'	'
Cash paid for Income Taxes	231,263	'
Non-cash Investing and Financing activities:	'	'
Conversion of shareholder loan into convertible debentures	'	202,543
Warrants issued in connection with convertible debentures	1,133,895	317,380
Beneficial conversion feature	1,216,570	443,054
Conversion of convertible note receivables to preferred shares of Meta Company	$50,000	'

NATURE_AND_CONTINUANCE_OF_OPER

NATURE AND CONTINUANCE OF OPERATIONS	9 Months Ended
	31-May-14
NATURE AND CONTINUANCE OF OPERATIONS [Abstract]	'
NATURE AND CONTINUANCE OF OPERATIONS	'
	NOTE 1:	NATURE AND CONTINUANCE OF OPERATIONS
	Infinity Augmented Reality, Inc. (the "Company") was originally incorporated as Shimmer Gold, Inc. in the State of Nevada on September 7, 2006. The Company was an Exploration Stage company as defined by Accounting Standards Codification ("ASC") 915, Development Stage Entities, and was in the business of the acquisition and exploration of mineral resources during the period from September 7, 2006 to May 21, 2010. Subsequently, a majority of our shareholders approved an amendment to our Articles of Incorporation changing our name to Absolute Life Solutions, Inc. During the fiscal year ended August 31, 2010, the Company commenced operations as a specialty financial services company engaged in the business of purchasing life settlement contracts for long-term investment purposes and was no longer classified as a development stage company.
	Effective November 15, 2012, the Company was no longer engaged in its prior primary activity as a specialty financial services company primarily engaged in the purchase of life settlement contracts. As a result of the foregoing, the Company was classified as a development stage company until it early adopted Accounting Standarts Update ("ASU") 2014-10 which eliminates the previous disclosure requirments of ASC 915-205, Development-Stage Entities. All of the operations related to the Company's life settlements business are reported as discontinued operations in the unaudited condensed consolidated financial statements. As discussed in Note 3, the prior period operations related to this business have also been reclassified as discontinued operations retrospectively for all periods presented.
	During the year ended August 31, 2012, the Company formed a wholly-owned subsidiary, Infinity Augmented Reality, LLC ("IAR Subsidiary"), and commenced activities to enable it to be actively engaged in the development of software applications which will utilize augmented reality. Augmented reality is a medium in which real sensory inputs are enhanced, or augmented, with relevant digital information from the internet. Using specially equipped eyewear, virtual images, video, and sound are superimposed for the user over what is actually seen and heard, heightening the real-life experience with additional information that is pertinent, informative, practical, and/or entertaining. The individual user may also be fully immersed in a virtual world, temporarily blocking out real surroundings. With augmented reality, sensory inputs are no longer limited to what is within eyeshot or earshot, but may incorporate, in real-time, all that the network has to offer.
	Effective March 7, 2013, the Company changed its name from Absolute Life Solutions, Inc. to Infinity Augmented Reality, Inc. On that same date, the IAR Subsidiary was merged into the Company. Effective June 30, 2013, the Company formed a wholly owned Israeli subsidiary, Infinity Augmented Reality Israel Ltd. ("Infinity Israel"). The Company is actively engaged in the development of a software platform which will utilize augmented reality. The Company intends to develop a comprehensive augmented reality platform for enterprises. The Company's objective is to establish itself firmly as a preeminent source for state-of-the-art augmented reality experiences, forging a strong association, early on, between the Infinity brand and this burgeoning medium.
	The continued existence of the Company is dependent upon its ability to generate profit from its augmented reality business and to meet its obligations as they become due. If additional cash is needed, the Company intends to finance the future capital required for continued operations from a combination of traditional private and public debt and equity markets. However, there is no assurance that (a) traditional debt and equity markets may be accessible as required, or if so, on acceptable terms or (b) the demand for and selling prices of the Company's augmented reality products, may not be sufficient to meet cash flow expectation. The outcome of these matters cannot be predicted with certainty and therefore the Company may not be able to continue or expand operations as planned. These conditions raise substantial doubt about the Company's ability to continue as a going concern. These financial statements do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern.

SIGNIFICANT_ACCOUNTING_POLICIE

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	31-May-14
SIGNIFICANT ACCOUNTING POLICIES [Abstract]	'
SIGNIFICANT ACCOUNTING POLICIES	'
	NOTE 2:	SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements as of May 31, 2014 and for the three months and nine months ended May 31, 2014 and 2013 have been prepared in accordance with the accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities and Exchange Commission ("SEC") and on the same basis as the annual audited financial statements. The unaudited condensed consolidated financial statements include the accounts of the Company and our wholly-owned subsidiary. All significant intercompany accounts and transactions are eliminated in the consolidation process. The unaudited Balance Sheet as of May 31, 2014, Statements of Operations and Comprehensive Loss for the three months and nine months ended May 31, 2014 and 2013, and Statements of Cash Flows for the nine months ended May 31, 2014 and 2013, are unaudited, but include all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of the financial position, operating results and cash flows for the period presented. The results for the three months and nine months ended May 31, 2014 are not necessarily indicative of results to be expected for the year ending August 31, 2014 or for any future interim period. In addition, the balance sheet data at August 31, 2013 was derived from the audited financial statements but does not include all disclosures required by GAAP. The accompanying financial statements should be read in conjunction with the Company's consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K, which was filed with the SEC on December 23, 2013.
	Use of Estimates
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. The most significant estimates with regard to these financial statements relate to deferred income tax amounts and rates and timing of the reversal of income tax differences.
	Reclassifications
	The Company reclassified certain amounts in the historical balance sheet for presentation purposes. The reclassification had no effect on working capital or previously stated net income.  The Company identified certain amounts in accounts payable and accrued expenses that should have been included in current liabilities of discontinued operations.
	Cash and Cash Equivalents
	The Company considers all short-term investments with an original maturity of three months or less to be cash equivalents. The Company maintains cash balances that may be uninsured or in deposit accounts that exceed Federal Deposit Insurance Corporation limits. The Company maintains its cash deposits with major financial institutions.
	Financial Instruments
	The fair value of certain of the Company's financial instruments, consisting of cash, accounts payable and accrued expenses are estimated to be equal to their carrying value due to the short-term nature of these instruments. It is management's opinion that the Company is not exposed to significant interest, currency and credit risks arising from these financial instruments.
	Leasehold Improvements and Equipment
	Leasehold Improvements and Equipment consists of computer hardware and furniture and is recorded at cost. Computer hardware and furniture are depreciated on a straight-line basis over their estimated lives of three to five years. Leasehold Improvements are amortized on a straight-line basis over the life of the lease of two years.
	Software Development Costs
	The Company applies the principles of ASC 985-20, Software- Costs of Software to Be Sold, Leased, or Marketed, which requires that software development costs incurred in conjunction with product development be charged to research and development expense until technological feasibility is established. Thereafter, until the product is released for sale, software development costs must be capitalized and reported at the lower of unamortized cost or net realizable value of the related product. The Company has adopted the "tested working model" approach to establishing technological feasibility for its products. Under this approach, a product in development is not considered to have passed the technological feasibility milestone until the Company has produced a model of the product that contains essentially all the functionality and features of the final product and have tested the model to ensure that it works as expected. The Company has expensed all software development costs when incurred since none of the Company's products have reached technological feasibility.
	Foreign Currency Translation
	The financial statements are presented in United States dollars. In accordance with ASC 830, Foreign Currency Matters, foreign denominated monetary assets and liabilities are translated to their United States dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Non-monetary assets and liabilities are translated at exchange rates prevailing at the transaction date. Revenue and expenses are translated at average rates of exchange during the periods presented. Related translation adjustments are reported as a separate component of stockholders' deficit, whereas gains or losses resulting from foreign currency transactions and re-measurement are included in results of operations. Infinity Israel maintains its books and record using its functional currency which is the New Israeli Shekel ("NIS").
	Income Taxes
	Deferred income taxes are provided for tax effects of temporary differences between the tax basis of asset and liabilities and their reported amounts in the financial statements. The Company uses the liability method to account for income taxes, which requires deferred taxes to be recorded at the statutory rate expected to be in effect when the taxes are paid. Valuation allowances are provided for a deferred tax asset when it is more likely than not that such asset will not be realized.
	Management evaluates tax positions taken or expected to be taken in a tax return. The evaluation of a tax position includes a determination of whether a tax position should be recognized in the financial statements, and such a position should only be recognized if the Company determines that it is more likely than not that the tax position will be sustained upon examination by the tax authorities, based upon the technical merits of the position. For those tax positions that should be recognized, the measurement of a tax position is determined as being the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement.
	The Company's policy for recording interest and penalties associated with audits is to record such expense as a component of income tax expense.
	Loss per Share
	Basic loss per share is calculated using the weighted average number of shares of common stock outstanding during the period. Included in basic loss per share calculations are the effects of 6,000,000 warrants exercisable at $0.01. Diluted earnings per share reflect the potential dilution that could occur if potentially dilutive securities were exercised or converted to common stock. The dilutive effect of options and warrants and their equivalent is computed by application of the treasury stock method and the effect of convertible securities by the "if converted" method. As of May 31, 2014, 86,845,263 shares of common stock, comprised of 20,230,172 convertible debentures with a conversion price of $0.25, 20,230,172 warrants with an exercise price of $0.50, and stock options exercisable into 46,384,919 common shares are not included in diluted loss per share since their effect would be anti-dilutive. As of May 31, 2013, 30,450,344 shares of common stock, comprised of 3,310,172 convertible debentures with a conversion price of $0.25, 3,310,172 warrants with an exercise price of $0.50, and stock options exercisable into 23,830,000 common shares are not included in diluted loss per share since their effect would be anti-dilutive.
	Stock-Based Compensation
	The Company records stock-based compensation expense in accordance with  ASC 718, Compensation - Stock Compensation. The Company expenses stock-based compensation to employees over the requisite service period based on the estimated grant-date fair value of the awards and forfeiture rates. For stock-based compensation awards to non-employees, the Company re-measures the fair value of the non-employee awards at each reporting period prior to vesting and finally at the vesting date of the award. The assumptions used in calculating the fair value of stock-based awards represent management's best estimates and involve inherent uncertainties and the application of management's judgment.
	Recent Accounting Pronouncements
	On June 10, 2014, the FASB issued Accounting Standards Update [ASU] 2014-10, entitled Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation. The guidance in ASU 2014-10 removes all incremental financial reporting requirements from GAAP for development-stage entities, including the removal of Topic 915 from the FASB Accounting Standards Codification. In addition, the update adds an example disclosure in Risks and Uncertainties (Topic 275) to illustrate one way that an entity that has not begun planned principal operations could provide information about the risks and uncertainties related to the company's current activities.
	The accounting standards update also removes an exception provided to development stage entities in Consolidations (Topic 810) for determining whether an entity is a variable interest entity-which may change the
	consolidation analysis, consolidation decision, and disclosure requirements for a company that has an interest in a company in the development stage.
	ASU 2014-10 is effective for the first annual period beginning after Dec. 15, 2014, the presentation and disclosure requirements in Topic 915 will no longer be required. The revised consolidation standards are effective one year later, in annual periods beginning after Dec. 15, 2015. Early adoption is permitted. The Company has early adopted the provisions of ASU 2014-10.
	Other pronouncements issued by the FASB or other authoritative accounting standards groups with future effective dates are either not applicable or are not expected to be significant to the condensed consolidated financial statements of the Company.

DISCONTINUED_OPERATIONS

DISCONTINUED OPERATIONS	9 Months Ended
	31-May-14
DISCONTINUED OPERATIONS [Abstract]	'
DISCONTINUED OPERATIONS	'
	NOTE 3:	DISCONTINUED OPERATIONS
	Effective November 15, 2012, the Company reached an agreement with the agent of the Lenders regarding the satisfaction of the outstanding balance of the Loans, under the terms of a Loan Satisfaction Agreement. Such agreement resulted in the disposition of all of the life settlement contracts that were held by the Company to the Lender or an affiliate of the Lender. All of the operations related to the Company's life settlements business are reported as discontinued operations in the condensed consolidated financial statements. The prior period operations related to this business have also been reported as discontinued operations retrospectively for all periods presented. The assets and liabilities related to the Company's life settlements business are reported as assets and liabilities of discontinued operations in the condensed consolidated balance sheets as of May 31, 2014. The Company presented the prior year assets and liabilities related to the Company's life settlements business as discontinued operations to provide comparability between the periods presented.
	Discontinued operations on the condensed consolidated statement of operations for the three months and nine months ended May 31, 2014 and 2013 are as follows:
			Three months			Three months		Nine months			Nine months
			ended May 31, 2014			ended May 31, 2013		ended May 31, 2014			ended May 31, 2013
	Sales, general and administrative expenses		$	-		$	-	$	-		$	(204,200	)
	Other income (expense)
	Correction of an error			(136,000	)		-		(136,000	)
	Realized loss on extinguishment of debt			-			-		-			(8,438,584	)
	Change in fair value of life settlement contracts net of premiums paid			-			-		-			2,055,438
	Interest expense			-			-		-			(1,610,571	)
	Loss from discontinued operations before income tax			(136,000	)		-		(136,000	)		(8,197,917	)
	Income tax (expenses) benefit			(160,319	)		-		(275,284	)		3,879,477
	Net loss from discontinued operations		$	(296,319	)	$	-	$	(411,284	)	$	(4,318,440	)
	Assets and liabilities of discontinued operations for the Company's life settlements business on the condensed consolidated balance sheets consist of the following:
			31-May-14			31-Aug-13
			(unaudited)
	ASSETS
	Current Assets
	Deferred income taxes			145,781			145,781
	Total noncurrent assets of discontinued operations		$	145,781		$	145,781
	LIABILITIES
	Current Liabilities
	Income and other taxes payable			1,136,000			955,978
	Total current liabilities of discontinued operations			1,136,000			955,978
	During the nine months ended May 31, 2013, a life settlement contract matured resulting in cash proceeds of $10,000,000, these proceeds were used to satisfy the Term Interest of $2,123,281, the Revolving Loan of $6,085,000 and the Premiums Payable of $1,170,526.
	As of May 31, 2014 and August 31, 2013, the Company had a deferred income tax asset of $145,781 from an NOL from discontinued operations and income tax payable of $1,000,000 and $955,978, respectively, which includes approximately $150,000 for interest and penalties, as a result of a realized gain from maturity of a life settlement contract which could not be offset by the capital loss generated by the disposition of life settlement contracts.
	During the nine months ended May 31, 2014, the Company recorded additional tax expense from discontinued operations of $275,284 from a true up of the tax liability to the 2012 and 2013 tax returns. In addition, while preparing the financial statements for the quarterly period ended May 31, 2014, the Company identified an error related to financing of $136,000 of premiums paid on life settlements policies in 2012. The Company determined that the error was not material to its previously reported financial position or operations. Accordingly, the Company has recorded the liability as a component of Liabilities from discontinued operations and a related charge to discontinued operations in the current period.

INVESTMENT_IN_META_COMPANY

INVESTMENT IN META COMPANY	9 Months Ended
	31-May-14
INVESTMENT IN META COMPANY [Abstract]	'
INVESTMENT IN META COMPANY	'
	NOTE 4:	INVESTMENT IN META COMPANY
	On July 10, 2013, the Company was issued a $50,000 par value Convertible Promissory Note from Meta Company ("Meta"), a Delaware company.  The Note bears a 5% annual coupon and was to mature on July 31, 2014.  The Note was convertible into shares of Meta at a conversion price of 80% of the price of common equity sold in a Qualified Offering of at least $1,000,000. The note was carried at cost which approximates fair value.  On January 27, 2014, Meta completed a qualified offering and converted the Convertible Promissory Note into 3,916 series A preferred shares of Meta at a purchase price of $16.397. The Company accounts for its investment in Meta in accordance with the cost method of accounting based on the guidance in ASC 325-20 "Investments-Other - Cost Method Investments" because the Company owns approximately 1% of the preferred shares issued in the qualified offering and does not exert influence over the operating and financial decisions of Meta management.

CONVERTIBLE_DEBENTURES

CONVERTIBLE DEBENTURES	9 Months Ended
	31-May-14
CONVERTIBLE DEBENTURES [Abstract]	'
CONVERTIBLE DEBENTURES	'
	NOTE 5:	CONVERTIBLE DEBENTURES
	During the nine months ended May 31, 2014, the Company completed a private placement to certain accredited investors (the "Purchasers") pursuant to several Securities Purchase Agreements of (i) five-year Convertible Debentures (the "Debentures") for an aggregate principal amount of $2,130,000, bearing interest at 1.2% per annum, convertible into shares (the "Conversion Shares") of common stock, at a conversion price of $0.25, and (ii) a five-year Warrant (the "Warrants") to purchase 8,520,000 shares of common stock (the "Warrant Shares").
	The Debentures bear interest at 1.2% per annum payable semi-annually in arrears in either cash or common stock (at the discretion of the Company). There are no provisions for early redemption by the Company.
	The Purchasers were issued Warrants to purchase the Company's common stock, exercisable for a period of five years at an initial exercise price of $0.50, subject to adjustment. The Warrants provide for customary adjustments to the exercise price in the event of stock splits, stock dividends and other similar corporate events and may be exercised on a cashless basis. The Warrants do not confer any voting rights or any other rights as a shareholder prior to exercise.
	The Company accounts for the beneficial conversion feature ("BCF") and warrant valuation in accordance with ASC 470-20, Debt with Conversion and Other Options. The Company records a BCF related to the issuance of convertible debt that has conversion features at fixed rates that are "in-the-money" when issued and the fair value of warrants issued in connection with those instruments. The BCF for the convertible instruments is recognized and measured by allocating a portion of the proceeds to warrants, based on their relative fair value, and as a reduction to the carrying amount of the convertible debt equal to the intrinsic value of the conversion feature. The discount recorded in connection with the BCF and warrant valuation is recognized as non-cash interest expense and is amortized over the terms of the convertible notes. The Company recorded an aggregate of $2,016,039 for the calculated fair value of the warrants and BCF, in conjunction with the debentures issued on September 17, 2013 through March 5, 2014.
	On March 24, 2014, the Company's board of directors terminated any further offering of Convertible Debentures Series A-13 and Warrants pursuant to the 2013 SPA. The Company approved a new Securities Purchase Agreement ("2014 SPA") with the same terms as 2013 SPA.
	On March 26, 2014, the Company completed a private placement to Singulariteam Fund L.P. (formerly known as Genesis Angels Fund, LP), ("Singulariteam") an affiliate of Moshe Hogeg, the Chairman of the Board of Directors of the Company. Pursuant to the Securities Purchase Agreement the Company issued (i) five-year Convertible Debentures (the "Debentures") for an aggregate principal amount of $1,000,000, bearing interest at 1.2% per annum, convertible into shares (the "Conversion Shares") of common stock, at a conversion price of $0.25, and (ii) a five-year Warrant (the "Warrants") to purchase 4,000,000 shares of common stock (the "Warrant Shares").
	Under 2014 SPA, the Company received a commitment from Credit Strategies, LLC (the "Lead Investor"), for itself and/or its affiliates, which are major investors in the Company, to purchase an additional $1,500,000 upon similar terms within 90 days.  During July 2014, the Company's board of directors approved the amendment of  the 2014 SPA to provide that the Lead Investor will invest its $1,500,000 in several installments according to the Company's needs, $250,000 of which has already been received.
	The Convertible Debentures have a term of five years and an interest rate of 1.20% per annum, payable semi-annually in cash or in kind at the option of the Company. If in kind, interest will be paid at the rate of $0.25 per share. The Company also issued warrants ("Warrants") to purchase a number of shares of the Company's Common Stock equal to the number of shares that a Convertible Debenture could be converted into (i.e., a warrant to purchase 400,000 shares for each $100,000 in principal amount of Convertible Debenture). The Warrants have an exercise price of $0.50 per share, with cashless exercise rights, and expire five (5) years from the issuance date.
	The Company recorded an aggregate of $334,426 for the calculated fair value of the warrants and BCF, in conjunction with warrants  the convertible debentures issued on March 26, 2014 and May 15, 2014.
	The Company valued the warrants at the date the warrants were issued, using the Black-Scholes valuation model and the following assumptions:
			17-Sep-13			9-Oct-13			7-Nov-13			5-Dec-13			19-Dec-13			4-Feb-14			13-Feb-14			5-Mar-14			26-Mar-14			May 15, 2014
	Contractual term (Years)			5			5			5			5			5			5			5			5			5			5
	Volatility			68.5	%		67.3	%		66.3	%		64.6	%		91.9	%		92.8	%		92.7	%		86.3	%		84.5	%		79.8	%
	Dividend yield			0	%		0	%		0	%		0	%		0	%		0	%		0	%		0	%		0	%		0	%
	Risk-free interest rate			1.65	%		1.43	%		1.34	%		1.45	%		1.55	%		1.44	%		1.59	%		1.54	%		1.75	%		1.57	%
			31-May-14
	1.2% convertible debentures			5,057,543
	Debt discount/ beneficial conversion feature			(3,659,542	)
	Balance		$	1,398,001

COMMITMENTS_AND_CONTINGENT_LIA

COMMITMENTS AND CONTINGENT LIABILITIES	9 Months Ended
	31-May-14
COMMITMENTS AND CONTINGENT LIABILITIES [Abstract]	'
COMMITMENTS AND CONTINGENT LIABILITIES	'
	NOTE 6:	COMMITMENTS AND CONTINGENT LIABILITIES
	On November 27, 2013, Infinity Israel received a pre lawsuit claim letter from the legal representative of a former employee. The compensation amount sought by the former employee as per his pre lawsuit claim letter was approximately 202,000 NIS (approximately $57,780). During the nine months ended May 31, 2014 Infinity Israel and the former employee have agreed on a settlement of the Claim of a lump sum payment of 50,000 NIS (approximately $16,500) by Infinity Israel to the former employee and, on January 26, 2014 the board of directors approved to issue the former employee options (the "Options") to purchase up to 218,750 shares of the Company's Common Stock under the Company's 2013 Equity Incentive Plan at an exercise price of $0.25 per share, which options expired on June 23, 2014. The fair value of this grant was $31,311.
	Effective November 1, 2013, Infinity Israel entered into an Employment Agreement with Ortal Zanzuri pursuant to which she will serve as the Chief Financial Officer of Infinity Israel. On November 11, 2013, the Board of the Company unanimously resolved to approve her employment agreement and resolved to appoint Ms. Zanzuri as the Secretary, Treasurer and Chief Financial Officer of the Company, effective on January 1, 2014. In connection with her appointment as Chief Financial Officer, Ms. Zanzuri will receive annual compensation of 480,000 New Israeli Shekel (approximately $136,000) and was granted options to purchase 400,000 shares of the Company with an exercise price of $0.10 (the "Options"). The options will vest semiannually over the next 2 years, beginning April 30, 2014 and continuing through October 31, 2015 and expire on February 22, 2019. Total fair value of this grant was $87,875.
	The Board also accepted the resignation of Mr. Joshua Yifat, effective as of December 31, 2013.
	On December 29, 2013, Infinity Israel entered into an employment agreements with Motti Kushnir ("Motti") and Matan Protter ("Matan") according to which Motti has been serving as the Chief Operating Officer ("COO") since December 29, 2013 and Matan has been serving as the Chief Technology Officer ("CTO") since January 1, 2014. In connection with their appointment as COO and CTO, Motti and Matan will receive annual compensation of approximately 630,000 NIS and 531,600 NIS (approximately $179,000 and $151,000), respectively, and each of them was granted options to purchase 1,375,000 shares of the Company with an exercise price of $0.40 (the "Options"), vesting semiannually over the next 3 years, and expiring on February 22, 2019.  The total fair value of these grants was $422,410.
	Effective September 1, 2013, the Company terminated the At-Will Employment Agreement with Helen Papagiannis and entered into a consulting agreement pursuant to which Ms. Papagiannis continued to serve as the Chief Innovation Officer of the Company. The essential terms of the consulting agreement are similar to the prior At-Will Employment Agreement with Ms. Papagiannis except for minor amended terms. On January 31, 2014, the Company terminated the consulting agreement with the Company's Chief Innovation Officer, Helen Papagiannis, effective as of April 30, 2014.
	On March 24, 2014, the Board of Directors accepted Mr. Enon Landenberg's resignation as Chief Executive Officer of the Company and its wholly-owned subsidiary, Infinity Israel effective April 1, 2014. Mr. Landenberg's resignation was not the result of any disagreement regarding the operations, policies and procedures of the Company.  Mr. Landenberg will remain as President and a director of the Company.
	Pursuant to the terms of an Agreement between the Company and Mr. Landenberg, Mr. Landenberg will continue to receive his current salary and full benefits until June 30, 2014. Mr. Landenberg had previously been granted options to purchase 1,500,000 shares of the Common Stock, of which 750,000 options had already vested.  He also received acceleration of the remaining currently unvested options to purchase 750,000 shares of Common Stock, so that they will vest in nine monthly installments beginning April 30, 2014 through December 31, 2014.
	Effective as of April 1, 2014, the Board of Directors elected Mr. Motti Kushnir, then serving as the Chief Operating Officer of IAR Israel, to the additional role of Chief Executive Officer of the Company. He has also been elected as the Chief Executive Officer of IAR Israel.  There were no changes in his employment terms.

COMMON_STOCK_WARRANTS_AND_OPTI

COMMON STOCK, WARRANTS AND OPTIONS	9 Months Ended
	31-May-14
COMMON STOCK, WARRANTS AND OPTIONS [Abstract]	'
COMMON STOCK, WARRANTS AND OPTIONS	'
	NOTE 7:	COMMON STOCK, WARRANTS AND OPTIONS
	Common Stock
	On December 29, 2013, the Company entered into an agreement to purchase certain intellectual property ("IP") from Motti Kushnir and Matan Protter (the "Sellers"). In consideration for the purchase of the IP, the Company issued 84,226 shares of common stock, valued at approximately 100,000 New Israeli Shekels ($26,110), of the Company which was restricted for a period of six months from the date of issuance.
	During the nine months ended May 31, 2014, a consultant exercised 1,647,170 options at an exercise price of $0.10 per share. The Company received cash proceeds of $164,717 on exercise of those options.
	As of May 31, 2014, there are 355,468 shares of common stock in the Company's treasury.
	Warrants
	Warrant transactions are summarized as follows:
			Number of warrants			Weighted		Weighted average life remaining
						average		(in years)
						exercise
						price
	Balance as at August 31, 2013
	Issued			13,710,172			0.28	3.51 years
	Additions as of May 31, 2014
	Issued			12,520,000			0.5	4.64 years
	Balance as at May 31, 2014			26,230,172			0.39	3.66 years
	As of May 31, 2014, there were 26,230,172 warrants outstanding and exercisable with expiration dates commencing June 2015 through May 2019.
	Stock Options
	On March 24, 2014, the Company's board of directors adopted the 2014 Equity Incentive Plan, pursuant to which the Company may issue up to 30,000,000 shares (or options to purchase shares) of the Company's Common Stock to designated officers, directors, employees and service provides of the Company pursuant to the terms of the 2014 Plan.
	On March 24, 2014, the Company's board of directors elected Moshe Hogeg ("Mr. Hogeg"), a Director of the Company, to serve as Chairman of the Board until the next Annual Meeting of the Board or until his successor is duly qualified and elected. In consideration of his services as Chairman of the Board, the Company issued to Mr. Hogeg options to acquire 20,000,000 shares of the Company's Common Stock under the Company's 2014 Plan, such options, in the aggregate, to vest in 24 equal monthly installments (with the first vesting date being one month following the date of grant), provided he continues to serve as Chairman of the Board as of the relevant vesting date, and to have an exercise price of $0.01 per share and an expiration date which is March 24, 2024 (or earlier as provided in the 2014 Plan), and which will be subject to the execution and the terms of an option agreement between the Company and Mr. Hogeg.
	During the nine months ended May 31, 2014, the Board of Directors granted to a director 100,000 Non-Qualified Stock Options with an exercise price of $0.29, vesting semiannually over the next 2 years (at the beginning of the Company's quarterly reporting date), and expiring on September 1, 2018.  25,000 (or 25%) of the Options shall initially vest on March 1, 2014 through September 1, 2015.
	During the nine months ended May 31, 2014, the Company's former Chief Financial Officer, Mr. Joshua Yifat, entered into a consulting agreement effective on January 1, 2014. Pursuant to the consulting agreement, the Board of Directors granted him 200,000 Non-Qualified Stock Options on November 7, 2013, at an exercise price of $0.35 vesting on April 16, 2014 and expiring on November 6, 2018.
	During the nine months ended May 31, 2014, the Board of Directors unanimously resolved to approve the appointments of Professor Steve Mann and Mr. Ido Sadeh as members of the Company's Technology Advisory Board (the "Advisory Board").
	Professor Steve Mann was granted 200,000 Non-Qualified Stock Options with an exercise price of $0.33 (the "Options"), vesting semiannually over the next 2 years, and expiring on January 13, 2019.  50,000 (or 25%) of the Options shall initially vest on June 30, 2014 through December 31, 2015.
	Mr. Ido Sadeh was granted 400,000 Non-Qualified Stock Options with an exercise price of $0.285 (the "Options"), vesting semiannually over the next 2 years, and expiring on February 21, 2019.  100,000 (or 25%) of the Options shall initially vest on August 31, 2014 through February 28, 2016.
	During the nine months ended May 31, 2014, the Board of Directors granted to a director 200,000 Non-Qualified Stock Options with an exercise price of $0.285. 100,000 options will be vested immediately and 100,000 options vesting semiannually over the next 2 years, and expiring on February 22, 2019.
	During the nine months ended May 31, 2014, the Board of Directors granted to Infinity Israel employees 300,000 Non-Qualified Stock Options with an exercise price of $0.285 (the "Options"), vesting semiannually over the next 3 years, and expiring on February 22, 2019.
	During the nine months ended May 31, 2014, the Board of Directors granted to certain of the Company's officers 4,650,000 Non-Qualified Stock Options with exercise prices ranging from $0.10-$0.40 (the "Options"), vesting semiannually over the next 2-3 years, and expiring on February 22, 2019.
	During the nine months ended May 31, 2014, the Board of Directors granted to a former employee of Infinity Israel 218,750 Non-Qualified Stock Options with an exercise price of $0.25 (the "Options"). The options vested immediately and expired on June 23, 2014.
	During the nine months ended May 31, 2014, the Board of Directors granted to a former employee of Infinity Israel 50,000 Non-Qualified Stock Options with an exercise price of $0.285 (the "Options"). The options vested immediately and expired on May 24, 2014.
	On March 4, 2013, the Company entered into four separate Consulting Agreements (each, a "2013 Consulting Agreement") with each of Agam Technologies LLC, SmartEyes Technologies LLC, XO Marketing LLC, and Gili Revensary as the managing member of GiliTech LLC (each, a "2013 Consultant") and, in connection with each such 2013 Consulting Agreement, issued to the such 2013 Consultant, options to purchase 22,500,000 shares of the Company's Common Stock with an exercise price of $0.10 under the Existing Plans and Nonqualified Stock Option Agreements, dated March 4, 2013 (each, the "2013 Consultant's Options" and the "2013 Option Agreement", respectively). In accordance with the 2013 Option Agreements, all the 2013 Consultant's Options which are vested at the termination of the 2013 Consulting Agreements may be exercised during a period of ninety (90) days after such termination date, and at the end of such ninety (90) day period, any unexercised 2013 Consultant's Options shall automatically expire and in accordance with the terms of the Existing Plans, shall be returned to the pool of shares available under the Existing Plans. Effective March 4, 2014 the Company terminated each of the 2013 Consulting Agreements. Any of the 2013 Consultant's Options which were not be exercised within ninety (90) days after the termination date, expired and were returned to the pool of shares available under the Existing Plans. As of May 31, 2014, there were 19,852,830 exercisable options to these consultants which expired on June 4, 2014.
	Total grant date fair value of these options was $5,568,709. As of May 31, 2014, the unamortized stock compensation expense is $3,678,646, which will be amortized over the period ended February 28, 2017.
	Valuation Assumptions
	The Company estimates the fair value of stock option grants using a Black-Scholes option pricing model. In applying this model, the Company uses the following assumptions:
		"	Risk-Free Interest Rate: The Company determined the risk-free interest rate equivalent to the expected term based on the U.S. Treasury constant maturity rate.
		"	Expected Volatility: The Company determined its future stock price volatility based on the average historical stock price volatility of comparable peer companies.
		"	Expected Term: Due to the limited exercise history of the Company's stock options, the Company determined the expected term based on the stratification of employee groups and the expected effect of events that have indications on future exercise activity.  Expected life for options granted to employees uses the Simplified Method, while options granted to non-employees uses a term equal to the life of the contract.
		"	Expected Dividend Rate: The Company has not paid and does not anticipate paying any cash dividends in the near future.
	The fair value of each option award was estimated on the grant date using the Black Scholes option-pricing model and expensed under the straight line method.  The following assumptions were used:
			Three Months ended		Nine Months ended
			31-May-14		31-May-14
	Exercise price		$0.01		$0.01 - $0.40
	Expected stock price volatility		84.90%		66.3% - 92.4%
	Risk-free rate of interest		2.74%		0.04% - 2.74%
	Expected life of options		5.5-6.5 Years		1-6.5 Years
	The following table summarizes the stock-based compensation expense from stock option, employee stock purchase programs and restricted Common Stock awards for the three months and nine months ended May 31, 2014 and 2013:
			Three months ended May 31,						Nine months ended
									May 31,
			2014			2013			2014		2013
	Employee awards		$	1,549,165		$	118,783		$	1,807,798	$	122,294
	Non- employee awards, net of forfeitures			-			4,286,044		$	35,989		4,286,044
	Total stock options compensation expense		$	1,549,165		$	4,404,827		$	1,843,787	$	4,408,338
	The following table summarizes stock option activity:
			Number of Shares			Weighted			Total		Weighted
						Average			Weighted		Average
						Exercise			Average		Remaining
						Price			Intrinsic		Contractual
									Value		Life
											(in years)
	Outstanding at August 31, 2013			22,430,000			0.11			0.19		4.51
	Options granted			26,318,750			0.08			0.15		8.62
	Options exercised			(1,647,170	)		0.1			-		-
	Options forfeited			(716,661	)		0.29			-		-
Options cancelled			-			-			-		-
Outstanding at May 31, 2014			46,384,919			0.09			0.12		4.8
Options exercisable at May 31, 2014			23,718,247			0.1			0.09		0.97

INCOME_TAXES

INCOME TAXES	9 Months Ended
	31-May-14
INCOME TAXES [Abstract]	'
INCOME TAXES	'
	NOTE 8:            INCOME TAXES
	Income tax expense consists of the following components for the three months and nine months ended May 31, 2014 and 2013:
		Three Months ended				Nine Months ended
		May 31,				May 31,
		2014		2013		2014		2013
	Current tax expense	$	-	$	-	$	-	$	-
	Deferred tax expense (benefit)		-		-		-		190,652
	Total income tax expense (benefit)	$	-	$	-	$	-	$	190,652
	The Company calculates its interim tax provision in accordance with the provisions of ASC 740-270, Income Taxes; Interim Reporting. For interim periods, the Company estimates its annual effective income tax rate and applies the estimated rate to the year-to-date income or loss before income taxes. The Company   also computes the tax provision or benefit related to items reported separately and recognizes the items net of their related tax effect in the interim periods in   which they occur. The Company also recognizes the effect of changes in enacted tax laws or rates in the interim periods in which the changes occur.
	In computing the annual estimated effective tax rate, the Company makes certain estimates and judgments, such as estimated annual taxable income or loss, the   nature and timing of permanent and temporary differences between taxable income for financial reporting and tax reporting, and the recoverability of deferred tax assets. These estimates and assumptions may change as new events occur, additional information is obtained, or as the tax environment changes. The difference between the statutory rate of 35% and the effective rate of 0% is primarily attributable to the effect of state and local taxes and offset by an increase in the valuation allowance.
	As of August 31, 2013, the Company had approximately $1,974,000 of federal, state and local net operating losses ("NOL"). The federal NOL carryforward expires in the fiscal year ending August 31, 2032. As of August 31, 2013, the Company had approximately $340,000 of NOLs in Israel available to be carried forward indefinitely. The Company recorded a valuation allowance against its deferred tax asset resulting from its NOLs since management concluded that it was more likely than not that the Company would not realize the benefit of this portion of its deferred tax assets by generating sufficient taxable income in future years.
	As of May 31, 2014, the Company has filed income tax returns through the fiscal 2013 tax year. The Company is required to file income tax returns in the United States (federal) and in New York State and City, and in Israel. Based on the Company's evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company's financial statements.
	The evaluation was performed for the August 31, 2008 - August 31, 2013 tax years, which remain subject to examination. At this time, the fiscal year 2011 tax return has been selected for examination by the Internal Revenue Service. The Company believes that its income tax positions and deductions would be sustained on audit and does not anticipate any adjustments that would result in material changes to its financial position.
	There are no significant amounts accrued for penalties or interest as of or during the nine months ended May 31, 2014 and 2013. Management is currently unaware of any issues under review that could result in significant payments, accruals or material deviations from its position.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	31-May-14
RELATED PARTY TRANSACTIONS [Abstract]	'
RELATED PARTY TRANSACTIONS	'
	NOTE 9:            RELATED PARTY TRANSACTIONS
	During the three month ended May 31, 2014, Infinity Israel entered into two loan agreements with GA Singapore Ltd., an affiliate of Moshe Hogeg. Infinity Israel received the total amount of 1,556,143 NIS (Approximately $443,660). The loans were repaid in full on May 20, 2014.
	During the quarter ended May 31, 2013, the Company received a short-term loan from a principal shareholder of $200,000 (the "Note"). The Note was at a rate of 8% per annum with a maturity date ending on or before May 31, 2013. On May 7, 2013, the shareholder assigned all rights, title and interest in the Note to an affiliate of the principal shareholder. On May 22, 2013, with consent from the Lead Investor, the holder agreed to exchange a total of $202,543 (loan principal of $200,000 and accrued interest of $2,543) for a Convertible Debenture pursuant to a Securities Purchase Agreement.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	31-May-14
SUBSEQUENT EVENTS [Abstract]	'
SUBSEQUENT EVENTS	'
	NOTE 10:          SUBSEQUENT EVENTS
	On June 10, 2014, the Board of Directors granted to an Infinity Israel employee 50,000 Non-Qualified Stock Options with an exercise price of $0.11, vesting semiannually over the next 3 years and expiring on June 10, 2019.
	On June 24, 2014, the Company entered into a new Securities Purchase Agreement with ALS Capital Ventures LLC. (the "investor") Pursuant to the terms of the Securities Purchase Agreement, the investor purchased 1.20% convertible debentures (convertible into an aggregate of 4,944,000 shares of common stock at an exercise price of $0.25 per share) and warrants (to purchase an aggregate of 4,944,000 shares of common stock at an exercise price of $0.50 per share).  The purchase price paid by the investor was $1,236,000 which was paid through a combination of (a) $1,100,000 cash and (b) the exchange by the investor of a $136,000 payable owed by the Company to the investor as reimbursement of a reduction of premiums paid with regard to the insurance policies transferred to the investor by the Company in 2012.
	On July 9, 2014, the Company issued Debentures and 1,000,000 warrants and received aggregate proceeds of $250,000.
	The Company evaluates events that have occurred after the balance sheet date through the date the financial statements were publicly available. Based upon the evaluation, the Company did not identify any other recognized or non-recognized subsequent events that would have required adjustment to or disclosure in the financial statements.

SIGNIFICANT_ACCOUNTING_POLICIE1

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	31-May-14
SIGNIFICANT ACCOUNTING POLICIES [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements as of May 31, 2014 and for the three months and nine months ended May 31, 2014 and 2013 have been prepared in accordance with the accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities and Exchange Commission ("SEC") and on the same basis as the annual audited financial statements. The unaudited condensed consolidated financial statements include the accounts of the Company and our wholly-owned subsidiary. All significant intercompany accounts and transactions are eliminated in the consolidation process. The unaudited Balance Sheet as of May 31, 2014, Statements of Operations and Comprehensive Loss for the three months and nine months ended May 31, 2014 and 2013, and Statements of Cash Flows for the nine months ended May 31, 2014 and 2013, are unaudited, but include all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of the financial position, operating results and cash flows for the period presented. The results for the three months and nine months ended May 31, 2014 are not necessarily indicative of results to be expected for the year ending August 31, 2014 or for any future interim period. In addition, the balance sheet data at August 31, 2013 was derived from the audited financial statements but does not include all disclosures required by GAAP. The accompanying financial statements should be read in conjunction with the Company's consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K, which was filed with the SEC on December 23, 2013.
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. The most significant estimates with regard to these financial statements relate to deferred income tax amounts and rates and timing of the reversal of income tax differences.
Reclassifications	'
	Reclassifications
	The Company reclassified certain amounts in the historical balance sheet for presentation purposes. The reclassification had no effect on working capital or previously stated net income.  The Company identified certain amounts in accounts payable and accrued expenses that should have been included in current liabilities of discontinued operations.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	The Company considers all short-term investments with an original maturity of three months or less to be cash equivalents. The Company maintains cash balances that may be uninsured or in deposit accounts that exceed Federal Deposit Insurance Corporation limits. The Company maintains its cash deposits with major financial institutions.
Financial Instruments	'
	Financial Instruments
	The fair value of certain of the Company's financial instruments, consisting of cash, accounts payable and accrued expenses are estimated to be equal to their carrying value due to the short-term nature of these instruments. It is management's opinion that the Company is not exposed to significant interest, currency and credit risks arising from these financial instruments.
Leasehold Improvements and Equipment	'
	Leasehold Improvements and Equipment
	Leasehold Improvements and Equipment consists of computer hardware and furniture and is recorded at cost. Computer hardware and furniture are depreciated on a straight-line basis over their estimated lives of three to five years. Leasehold Improvements are amortized on a straight-line basis over the life of the lease of two years.
Software Development Costs	'
	Software Development Costs
	The Company applies the principles of ASC 985-20, Software- Costs of Software to Be Sold, Leased, or Marketed, which requires that software development costs incurred in conjunction with product development be charged to research and development expense until technological feasibility is established. Thereafter, until the product is released for sale, software development costs must be capitalized and reported at the lower of unamortized cost or net realizable value of the related product. The Company has adopted the "tested working model" approach to establishing technological feasibility for its products. Under this approach, a product in development is not considered to have passed the technological feasibility milestone until the Company has produced a model of the product that contains essentially all the functionality and features of the final product and have tested the model to ensure that it works as expected. The Company has expensed all software development costs when incurred since none of the Company's products have reached technological feasibility.
Foreign Currency Translation	'
	Foreign Currency Translation
	The financial statements are presented in United States dollars. In accordance with ASC 830, Foreign Currency Matters, foreign denominated monetary assets and liabilities are translated to their United States dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Non-monetary assets and liabilities are translated at exchange rates prevailing at the transaction date. Revenue and expenses are translated at average rates of exchange during the periods presented. Related translation adjustments are reported as a separate component of stockholders' deficit, whereas gains or losses resulting from foreign currency transactions and re-measurement are included in results of operations. Infinity Israel maintains its books and record using its functional currency which is the New Israeli Shekel ("NIS").
Income Taxes	'
	Income Taxes
	Deferred income taxes are provided for tax effects of temporary differences between the tax basis of asset and liabilities and their reported amounts in the financial statements. The Company uses the liability method to account for income taxes, which requires deferred taxes to be recorded at the statutory rate expected to be in effect when the taxes are paid. Valuation allowances are provided for a deferred tax asset when it is more likely than not that such asset will not be realized.
	Management evaluates tax positions taken or expected to be taken in a tax return. The evaluation of a tax position includes a determination of whether a tax position should be recognized in the financial statements, and such a position should only be recognized if the Company determines that it is more likely than not that the tax position will be sustained upon examination by the tax authorities, based upon the technical merits of the position. For those tax positions that should be recognized, the measurement of a tax position is determined as being the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement.
	The Company's policy for recording interest and penalties associated with audits is to record such expense as a component of income tax expense.
Loss per Share	'
	Loss per Share
	Basic loss per share is calculated using the weighted average number of shares of common stock outstanding during the period. Included in basic loss per share calculations are the effects of 6,000,000 warrants exercisable at $0.01. Diluted earnings per share reflect the potential dilution that could occur if potentially dilutive securities were exercised or converted to common stock. The dilutive effect of options and warrants and their equivalent is computed by application of the treasury stock method and the effect of convertible securities by the "if converted" method. As of May 31, 2014, 86,845,263 shares of common stock, comprised of 20,230,172 convertible debentures with a conversion price of $0.25, 20,230,172 warrants with an exercise price of $0.50, and stock options exercisable into 46,384,919 common shares are not included in diluted loss per share since their effect would be anti-dilutive. As of May 31, 2013, 30,450,344 shares of common stock, comprised of 3,310,172 convertible debentures with a conversion price of $0.25, 3,310,172 warrants with an exercise price of $0.50, and stock options exercisable into 23,830,000 common shares are not included in diluted loss per share since their effect would be anti-dilutive.
Stock-Based Compensation	'
	Stock-Based Compensation
	The Company records stock-based compensation expense in accordance with  ASC 718, Compensation - Stock Compensation. The Company expenses stock-based compensation to employees over the requisite service period based on the estimated grant-date fair value of the awards and forfeiture rates. For stock-based compensation awards to non-employees, the Company re-measures the fair value of the non-employee awards at each reporting period prior to vesting and finally at the vesting date of the award. The assumptions used in calculating the fair value of stock-based awards represent management's best estimates and involve inherent uncertainties and the application of management's judgment.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	On June 10, 2014, the FASB issued Accounting Standards Update [ASU] 2014-10, entitled Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation. The guidance in ASU 2014-10 removes all incremental financial reporting requirements from GAAP for development-stage entities, including the removal of Topic 915 from the FASB Accounting Standards Codification. In addition, the update adds an example disclosure in Risks and Uncertainties (Topic 275) to illustrate one way that an entity that has not begun planned principal operations could provide information about the risks and uncertainties related to the company's current activities.
	The accounting standards update also removes an exception provided to development stage entities in Consolidations (Topic 810) for determining whether an entity is a variable interest entity-which may change the
	consolidation analysis, consolidation decision, and disclosure requirements for a company that has an interest in a company in the development stage.
	ASU 2014-10 is effective for the first annual period beginning after Dec. 15, 2014, the presentation and disclosure requirements in Topic 915 will no longer be required. The revised consolidation standards are effective one year later, in annual periods beginning after Dec. 15, 2015. Early adoption is permitted. The Company has early adopted the provisions of ASU 2014-10.
	Other pronouncements issued by the FASB or other authoritative accounting standards groups with future effective dates are either not applicable or are not expected to be significant to the condensed consolidated financial statements of the Company.

DISCONTINUED_OPERATIONS_Tables

DISCONTINUED OPERATIONS (Tables)	9 Months Ended
	31-May-14
DISCONTINUED OPERATIONS [Abstract]	'
Schedule of Discontinued Operations, Income Statement and Balance Sheet	'
	Discontinued operations on the condensed consolidated statement of operations for the three months and nine months ended May 31, 2014 and 2013 are as follows:
		Three months			Three months		Nine months			Nine months
		ended May 31, 2014			ended May 31, 2013		ended May 31, 2014			ended May 31, 2013
	Sales, general and administrative expenses	$	-		$	-	$	-		$	(204,200	)
	Other income (expense)
	Correction of an error		(136,000	)		-		(136,000	)
	Realized loss on extinguishment of debt		-			-		-			(8,438,584	)
	Change in fair value of life settlement contracts net of premiums paid		-			-		-			2,055,438
	Interest expense		-			-		-			(1,610,571	)
	Loss from discontinued operations before income tax		(136,000	)		-		(136,000	)		(8,197,917	)
	Income tax (expenses) benefit		(160,319	)		-		(275,284	)		3,879,477
	Net loss from discontinued operations	$	(296,319	)	$	-	$	(411,284	)	$	(4,318,440	)
	Assets and liabilities of discontinued operations for the Company's life settlements business on the condensed consolidated balance sheets consist of the following:
		31-May-14			31-Aug-13
		(unaudited)
	ASSETS
	Current Assets
	Deferred income taxes		145,781			145,781
	Total noncurrent assets of discontinued operations	$	145,781		$	145,781
	LIABILITIES
	Current Liabilities
	Income and other taxes payable		1,136,000			955,978
	Total current liabilities of discontinued operations		1,136,000			955,978

CONVERTIBLE_DEBENTURES_Tables

CONVERTIBLE DEBENTURES (Tables)	9 Months Ended
	31-May-14
CONVERTIBLE DEBENTURES [Abstract]	'
Schedule of Warrant Valuation Assumptions	'
	The Company valued the warrants at the date the warrants were issued, using the Black-Scholes valuation model and the following assumptions:
		17-Sep-13			9-Oct-13			7-Nov-13			5-Dec-13			19-Dec-13			4-Feb-14			13-Feb-14			5-Mar-14			26-Mar-14			May 15, 2014
	Contractual term (Years)		5			5			5			5			5			5			5			5			5			5
	Volatility		68.5	%		67.3	%		66.3	%		64.6	%		91.9	%		92.8	%		92.7	%		86.3	%		84.5	%		79.8	%
	Dividend yield		0	%		0	%		0	%		0	%		0	%		0	%		0	%		0	%		0	%		0	%
	Risk-free interest rate		1.65	%		1.43	%		1.34	%		1.45	%		1.55	%		1.44	%		1.59	%		1.54	%		1.75	%		1.57	%
Schedule of Senior Convertible Notes	'
		31-May-14
	1.2% convertible debentures		5,057,543
	Debt discount/ beneficial conversion feature		(3,659,542	)
	Balance	$	1,398,001

COMMON_STOCK_WARRANTS_AND_OPTI1

COMMON STOCK, WARRANTS AND OPTIONS (Tables)	9 Months Ended
	31-May-14
COMMON STOCK, WARRANTS AND OPTIONS [Abstract]	'
Schedule of Warrant Transactions	'
	Warrant transactions are summarized as follows:
		Number of warrants			Weighted		Weighted average life remaining
					average		(in years)
					exercise
					price
	Balance as at August 31, 2013
	Issued		13,710,172			0.28	3.51 years
	Additions as of May 31, 2014
	Issued		12,520,000			0.5	4.64 years
	Balance as at May 31, 2014		26,230,172			0.39	3.66 years
Schedule of Stock Option Fair Value Assumptions	'
	The fair value of each option award was estimated on the grant date using the Black Scholes option-pricing model and expensed under the straight line method.  The following assumptions were used:
		Three Months ended		Nine Months ended
		31-May-14		31-May-14
	Exercise price	$0.01		$0.01 - $0.40
	Expected stock price volatility	84.90%		66.3% - 92.4%
	Risk-free rate of interest	2.74%		0.04% - 2.74%
	Expected life of options	5.5-6.5 Years		1-6.5 Years
Schedule of Stock-Based Compensation Expense	'
	The following table summarizes the stock-based compensation expense from stock option, employee stock purchase programs and restricted Common Stock awards for the three months and nine months ended May 31, 2014 and 2013:
		Three months ended May 31,						Nine months ended
								May 31,
		2014			2013			2014		2013
	Employee awards	$	1,549,165		$	118,783		$	1,807,798	$	122,294
	Non- employee awards, net of forfeitures		-			4,286,044		$	35,989		4,286,044
	Total stock options compensation expense	$	1,549,165		$	4,404,827		$	1,843,787	$	4,408,338
Schedule of Stock Option Activity	'
	The following table summarizes stock option activity:
		Number of Shares			Weighted			Total		Weighted
					Average			Weighted		Average
					Exercise			Average		Remaining
					Price			Intrinsic		Contractual
								Value		Life
										(in years)
	Outstanding at August 31, 2013		22,430,000			0.11			0.19		4.51
	Options granted		26,318,750			0.08			0.15		8.62
	Options exercised		(1,647,170	)		0.1			-		-
	Options forfeited		(716,661	)		0.29			-		-
	Options cancelled		-			-			-		-
	Outstanding at May 31, 2014		46,384,919			0.09			0.12		4.8
	Options exercisable at May 31, 2014		23,718,247			0.1			0.09		0.97

INCOME_TAXES_Tables

INCOME TAXES (Tables)	9 Months Ended
	31-May-14
INCOME TAXES [Abstract]	'
Schedule of Income Tax Expense (Benefit)	'
	Income tax expense consists of the following components for the three months and nine months ended May 31, 2014 and 2013:
		Three Months ended				Nine Months ended
		May 31,				May 31,
		2014		2013		2014		2013
	Current tax expense	$	-	$	-	$	-	$	-
	Deferred tax expense (benefit)		-		-		-		190,652
	Total income tax expense (benefit)	$	-	$	-	$	-	$	190,652

SIGNIFICANT_ACCOUNTING_POLICIE2

SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	9 Months Ended
	31-May-14	31-May-13
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Warrants outstanding	6,000,000	'
Exercise price of warrants	0.01	'
Computer hardware [Member] | Minimum [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Estimated useful lives	'3 years	'
Computer hardware [Member] | Maximum [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Estimated useful lives	'5 years	'
Furniture [Member] | Minimum [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Estimated useful lives	'3 years	'
Furniture [Member] | Maximum [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Estimated useful lives	'5 years	'
Leasehold Improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Estimated useful lives	'2 years	'
Common Stock [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities not included in computation of earnings per common share	87,045,263	30,450,344
Convertible Debentures [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities not included in computation of earnings per common share	20,230,172	3,310,172
Conversion price	0.25	0.25
Warrants [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Exercise price of warrants	0.5	0.5
Antidilutive securities not included in computation of earnings per common share	20,230,172	3,310,172
Stock Options [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities not included in computation of earnings per common share	46,584,919	23,830,000

DISCONTINUED_OPERATIONS_Conden

DISCONTINUED OPERATIONS (Condensed Statement of Operations and Condensed Balance Sheets) (Details) (USD $)	3 Months Ended		9 Months Ended
	31-May-14	31-May-13	31-May-14	31-May-13	Aug. 31, 2013
DISCONTINUED OPERATIONS [Abstract]	'	'	'	'	'
Sales, general and administrative expenses	'	'	'	($204,200)	'
Other income (expense)	'	'	'	'	'
Correction of an error	-136,000	'	-136,000	'	'
Realized loss on extinguishment of debt	'	'	'	-8,438,584	'
Change in fair value of life settlement contracts net of premiums paid	'	'	'	2,055,438	'
Interest expense	'	'	'	-1,610,571	'
Loss from discontinued operations before income tax	-136,000	'	-136,000	-8,197,917	'
Income tax (expenses) benefit	-160,319	'	-275,284	3,879,477	'
Net loss from discontinued operations	-296,319	'	-411,284	-4,318,440	'
ASSETS	'	'	'	'	'
Deferred income taxes	145,781	'	145,781	'	145,781
Total noncurrent assets of discontinued operations	145,781	'	145,781	'	145,781
LIABILITIES	'	'	'	'	'
Income and other taxes payable	1,136,000	'	1,136,000	'	955,978
Total current liabilities of discontinued operations	$1,136,000	'	$1,136,000	'	$955,978

DISCONTINUED_OPERATIONS_Narrat

DISCONTINUED OPERATIONS (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended
	31-May-14	31-May-13	31-May-14	31-May-13	Aug. 31, 2013
DISCONTINUED OPERATIONS [Abstract]	'	'	'	'	'
Proceeds from life settlement contract maturity	'	'	'	$10,000,000	'
Deferred income tax asset, NOL from discontinued operations	145,781	'	145,781	'	145,781
Income taxes payable	1,000,000	'	1,000,000	'	955,978
Interest and penalties	150,000	'	150,000	'	150,000
Additional tax expense from discontinued operations	160,319	'	275,284	-3,879,477	'
Correction of an error	136,000	'	136,000	'	'
ALS Capital Ventures LLC [Member]	'	'	'	'	'
Debt Instrument [Line Items]	'	'	'	'	'
Premiums payable	'	1,170,526	'	1,170,526	'
Term Loan [Member]	'	'	'	'	'
Debt Instrument [Line Items]	'	'	'	'	'
Interest payable	'	2,123,281	'	2,123,281	'
Revolving Loan [Member]	'	'	'	'	'
Debt Instrument [Line Items]	'	'	'	'	'
Debt, gross amount	'	$6,085,000	'	$6,085,000	'

INVESTMENT_IN_META_COMPANY_Det

INVESTMENT IN META COMPANY (Details) (Meta Company [Member], USD $)	Jan. 27, 2014	31-May-14	Jan. 27, 2014
	Series A Preferred Shares [Member]	Convertible Note Receivable [Member]	Convertible Note Receivable [Member]
			Series A Preferred Shares [Member]
Investment [Line Items]	'	'	'
Issuance date	'	10-Jul-13	'
Amount	'	$50,000	'
Interest rate	'	5.00%	'
Maturity	'	31-Jul-14	'
Terms of conversion	'	'The Note was convertible into shares of Meta at a conversion price of 80% of the price of common equity sold in a Qualified Offering of at least $1,000,000.	'
Shares issued in debt conversion	'	'	3,916
Purchase price	'	'	$16.40
Ownership interest	1.00%	'	'

CONVERTIBLE_DEBENTURES_Narrati

CONVERTIBLE DEBENTURES (Narrative) (Details) (USD $)	9 Months Ended
	31-May-14
Debt Instrument [Line Items]	'
Exercise price of warrants	$0.01
Credit Strategies, LLC [Member]	'
Debt Instrument [Line Items]	'
Securities Purchase Agreement , investment amount	$1,500,000
Proceeds from Securities Purchase Agreement	250,000
Convertible Debentures [Member]	'
Debt Instrument [Line Items]	'
Term	'5 years
Amount	2,130,000
Interest rate	1.20%
Conversion price	$0.25
Warrant Term	'5 years
Warrants issued to purchase shares of common stock	8,520,000
Exercise price of warrants	$0.50
Aggregate fair value of warrants and beneficial conversion feature	2,016,039
Convertible Debentures [Member] | Singulariteam Fund L.P. [Member]	'
Debt Instrument [Line Items]	'
Term	'5 years
Issuance date	26-Mar-14
Amount	1,000,000
Interest rate	1.20%
Conversion price	$0.25
Warrant Term	'5 years
Warrants issued to purchase shares of common stock	4,000,000
Convertible Debentures [Member] | Credit Strategies, LLC [Member]	'
Debt Instrument [Line Items]	'
Term	'5 years
Issuance date	26-Mar-14
Interest rate	1.20%
In kind interest, per share	$0.25
Warrant Term	'5 years
Warrants issued to purchase shares of common stock	400,000
Exercise price of warrants	$0.50
Aggregate fair value of warrants and beneficial conversion feature	$334,426

CONVERTIBLE_DEBENTURES_Fair_Va

CONVERTIBLE DEBENTURES (Fair Value Assumptions of Warrants) (Details) (Warrant [Member])	9 Months Ended
	31-May-14
Issued on September 17, 2013 [Member]	'
Class of Warrant or Right [Line Items]	'
Contractual term (Years)	'5 years
Volatility	68.50%
Dividend yield	0.00%
Risk-free interest rate	1.65%
Issued on October 9, 2013 [Member]	'
Class of Warrant or Right [Line Items]	'
Contractual term (Years)	'5 years
Volatility	67.30%
Dividend yield	0.00%
Risk-free interest rate	1.43%
Issued on November 7, 2013 [Member]	'
Class of Warrant or Right [Line Items]	'
Contractual term (Years)	'5 years
Volatility	66.30%
Dividend yield	0.00%
Risk-free interest rate	1.34%
Issued on December 5, 2013 [Member]	'
Class of Warrant or Right [Line Items]	'
Contractual term (Years)	'5 years
Volatility	64.60%
Dividend yield	0.00%
Risk-free interest rate	1.45%
Issued on December 19, 2013 [Member]	'
Class of Warrant or Right [Line Items]	'
Contractual term (Years)	'5 years
Volatility	91.90%
Dividend yield	0.00%
Risk-free interest rate	1.55%
Issued on February 4, 2014 [Member]	'
Class of Warrant or Right [Line Items]	'
Contractual term (Years)	'5 years
Volatility	92.80%
Dividend yield	0.00%
Risk-free interest rate	1.44%
Issued on February 13, 2014 [Member]	'
Class of Warrant or Right [Line Items]	'
Contractual term (Years)	'5 years
Volatility	92.70%
Dividend yield	0.00%
Risk-free interest rate	1.59%
Issued on March 5, 2014 [Member]	'
Class of Warrant or Right [Line Items]	'
Contractual term (Years)	'5 years
Volatility	86.30%
Dividend yield	0.00%
Risk-free interest rate	1.54%
Issued on March 26, 2014 [Member]	'
Class of Warrant or Right [Line Items]	'
Contractual term (Years)	'5 years
Volatility	84.50%
Dividend yield	0.00%
Risk-free interest rate	1.75%
Issued on May 15, 2014 [Member]	'
Class of Warrant or Right [Line Items]	'
Contractual term (Years)	'5 years
Volatility	79.80%
Dividend yield	0.00%
Risk-free interest rate	1.57%

CONVERTIBLE_DEBENTURES_Schedul

CONVERTIBLE DEBENTURES (Schedule of Convertible Debentures) (Details) (USD $)	31-May-14	Aug. 31, 2013
Debt Instrument [Line Items]	'	'
Balance	$1,398,001	$128,327
Convertible Debentures [Member]	'	'
Debt Instrument [Line Items]	'	'
Amount	5,057,543	'
Interest rate	1.20%	'
Debt discount/ beneficial conversion feature	-3,659,542	'
Balance	$1,398,001	'

COMMITMENTS_AND_CONTINGENT_LIA1

COMMITMENTS AND CONTINGENT LIABILITIES (Details)

0 Months Ended

9 Months Ended

0 Months Ended

0 Months Ended

0 Months Ended

0 Months Ended

Dec. 29, 2013

Nov. 27, 2013

Nov. 27, 2013

31-May-14

31-May-14

31-May-14

Jan. 01, 2014

Jan. 01, 2014

Dec. 29, 2013

Dec. 29, 2013

Dec. 29, 2013

Dec. 29, 2013

Mar. 24, 2014

Mar. 24, 2014

Mar. 24, 2014

USD ($)

USD ($)

ILS

USD ($)

ILS

2013 Plan [Member]

Ortal Zanzuri [Member]

Ortal Zanzuri [Member]

Motti [Member]

Motti [Member]

Matan [Member]

Matan [Member]

Enon Landenberg [Member]

Enon Landenberg [Member]

Enon Landenberg [Member]

USD ($)

USD ($)

ILS

USD ($)

ILS

USD ($)

ILS

Minimum [Member]

Maximum [Member]

COMMITMENTS AND CONTINGENT LIABILITIES [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Damages being sought

'

$57,780

202,000

'

'

'

'

'

'

'

'

'

'

'

'

Damages paid in settlement

'

'

'

16,500

50,000

'

'

'

'

'

'

'

'

'

'

Commitments And Contingencies [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Options issuable from settlement

'

'

'

'

'

218,750

'

'

'

'

'

'

'

'

'

Options issuable from settlement, exercise price

'

'

'

'

'

$0.25

'

'

'

'

'

'

'

'

'

Annual base compensation

'

'

'

'

'

'

136,000

480,000

179,000

630,000

151,000

531,600

'

'

'

Options granted

'

'

'

'

'

'

400,000

'

1,375,000

'

1,375,000

'

1,500,000

'

'

Options granted, exercise price

'

'

'

'

'

'

$0.10

'

$0.40

'

$0.40

'

'

'

'

Options vested

'

'

'

'

'

'

'

'

'

'

'

'

750,000

'

'

Non-vested options

'

'

'

'

'

'

'

'

'

'

'

'

750,000

'

'

Stock option, vesting date

'

'

'

'

'

'

'

'

'

'

'

'

'

30-Apr-14

31-Dec-14

Vesting period

'

'

'

'

'

'

'2 years

'

'3 years

'

'3 years

'

'

'

'

Stock option, expiration date

'

'

'

'

'

23-Jun-14

22-Feb-19

'

22-Feb-19

'

22-Feb-19

'

'

'

'

Options granted, fair value

$442,410

'

'

'

'

$31,311

$87,875

'

'

'

'

'

'

'

'

COMMON_STOCK_WARRANTS_AND_OPTI2

COMMON STOCK, WARRANTS AND OPTIONS (Narrative) (Details)

0 Months Ended

9 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

Dec. 29, 2013

Dec. 29, 2013

31-May-14

31-May-13

Aug. 31, 2013

Mar. 24, 2014

31-May-14

Mar. 24, 2014

31-May-14

31-May-14

31-May-14

31-May-14

31-May-14

31-May-14

31-May-14

31-May-14

31-May-14

31-May-14

31-May-14

31-May-14

31-May-14

31-May-14

31-May-14

31-May-14

31-May-14

31-May-14

31-May-14

Mar. 04, 2013

31-May-14

USD ($)

ILS

USD ($)

USD ($)

2014 Equity Incentive Plan [Member]

2013 Plan [Member]

Mosh Hogeg [Member]

Director [Member]

Mr. Joshua Yifat [Member]

Professor Steve Mann [Member]

Mr. Ido Sadeh [Member]

Second Director [Member]

Infinity Israel employees [Member]

Officers [Member]

First Group of Former Employees of Infinity Israel [Member]

Second Group of Former Employees of Infinity Israel [Member]

Minimum [Member]

Minimum [Member]

Minimum [Member]

Minimum [Member]

Minimum [Member]

Maximum [Member]

Maximum [Member]

Maximum [Member]

Maximum [Member]

Maximum [Member]

Consultants [Member]

Consultants [Member]

2014 Equity Incentive Plan [Member]

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Director [Member]

Professor Steve Mann [Member]

Mr. Ido Sadeh [Member]

Officers [Member]

Director [Member]

Professor Steve Mann [Member]

Mr. Ido Sadeh [Member]

Officers [Member]

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares issued for purchase of intellectual property

84,226

84,226

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares issued for purchase of intellectual property, value

$26,110

100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Options exercised

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,647,170

Options exercised, exercise price

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$0.10

Proceeds on exercise of options

'

'

164,717

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

164,717

Treasury stock

'

'

355,468

'

355,468

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Warrants outstanding and exercisable

'

'

26,230,172

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Warrant expiration date

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1-Jun-15

'

'

'

'

31-May-19

'

'

'

'

'

'

Equity Incentive Plan, shares of common stock reserved for issuance

'

'

'

'

'

30,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Options granted

'

'

'

'

'

'

'

20,000,000

100,000

200,000

200,000

400,000

200,000

300,000

4,685,000

218,750

50,000

'

'

'

'

'

'

'

'

'

'

22,500,000

'

Options granted, exercise price

'

'

'

'

'

'

'

$0.01

$0.29

$0.35

$0.33

$0.28

$0.28

$0.28

'

$0.25

$0.28

'

'

'

'

$0.10

'

'

'

'

$0.40

$0.10

'

Options vested

'

'

'

'

'

'

'

'

'

'

'

'

100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Options exercisable

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

19,852,930

Vesting period

'

'

'

'

'

'

'

'24 months

'2 years

'

'2 years

'2 years

'2 years

'3 years

'

'

'

'

'

'

'

'2 years

'

'

'

'

'3 years

'

'

Stock option, expiration date

'

'

'

'

'

'

23-Jun-14

24-Mar-24

1-Sep-18

6-Nov-18

13-Jan-19

22-Feb-19

22-Feb-19

22-Feb-19

22-Feb-19

23-Jun-14

24-May-14

'

'

'

'

'

'

'

'

'

'

'

4-Jun-14

Options to initially vest

'

'

'

'

'

'

'

'

25,000

'

50,000

100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Vesting percentage

'

'

'

'

'

'

'

'

25.00%

'

25.00%

25.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Vesting rate, number

'

'

'

'

'

'

'

'

'

'

'

'

100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock option, vesting date

'

'

'

'

'

'

'

'

'

16-Apr-14

'

'

'

'

'

'

'

'

1-Mar-14

30-Jun-14

31-Aug-14

'

'

1-Sep-15

31-Dec-15

28-Feb-16

'

'

'

Aggregate fair value of the options at grant date

'

'

5,568,709

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unamortized compensation cost related to stock options

'

'

$3,678,646

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

End of amortization period related to stock options

'

'

28-Feb-17

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

COMMON_STOCK_WARRANTS_AND_OPTI3

COMMON STOCK, WARRANTS AND OPTIONS (Schedule of Warrant Transactions) (Details) (Warrant [Member], USD $)	9 Months Ended	12 Months Ended
	31-May-14	Aug. 31, 2013
Warrant [Member]	'	'
Number of warrants	'	'
Balance	13,710,172	'
Issued	12,520,000	'
Balance	26,230,172	13,710,172
Weighted average exercise price	'	'
Balance	$0.28	'
Issued	$0.50	'
Balance	$0.39	$0.28
Weighted average life remaining (in years)	'	'
Balance	'3 years 7 months 28 days	'3 years 6 months 4 days
Issued	'4 years 7 months 21 days	'

COMMON_STOCK_WARRANTS_AND_OPTI4

COMMON STOCK, WARRANTS AND OPTIONS (Fair Value Assumptions for Options) (Details) (Stock Options [Member], USD $)	3 Months Ended	9 Months Ended
	31-May-14	31-May-14
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Exercise price	$0.01	$0.01
Expected stock price volatility	84.90%	'
Expected stock price volatility, minimum	'	66.30%
Expected stock price volatility, maximum	'	92.40%
Risk-free rate of interest	2.74%	'
Risk-free rate of interest, minimum	'	0.04%
Risk-free rate of interest, maximum	'	2.74%
Minimum [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Exercise price	$0.01	$0.01
Expected life of options	'5 years 6 months	'1 year
Maximum [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Exercise price	$0.40	$0.40
Expected life of options	'6 years 6 months	'6 years 6 months

COMMON_STOCK_WARRANTS_AND_OPTI5

COMMON STOCK, WARRANTS AND OPTIONS (Schedule of Stock-Based Compensation Expense) (Details) (USD $)	3 Months Ended		9 Months Ended
	31-May-14	31-May-13	31-May-14	31-May-13
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Total stock options compensation expense	$1,549,165	$4,404,827	$1,843,787	$4,408,338
Employee Stock Option [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Total stock options compensation expense	1,549,165	118,783	1,807,798	122,294
Non-Employee Award [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Total stock options compensation expense	'	$4,286,044	$35,989	$4,286,044

COMMON_STOCK_WARRANTS_AND_OPTI6

COMMON STOCK, WARRANTS AND OPTIONS (Schedule of Stock Option Activity) (Details) (Stock Options [Member], USD $)	9 Months Ended	12 Months Ended
	31-May-14	Aug. 31, 2013
Stock Options [Member]	'	'
Number of Shares	'	'
Outstanding at August 31, 2013	22,430,000	'
Options granted	26,318,750	'
Options exercised	-1,647,170	'
Options forfeited	-716,661	'
Options cancelled	'	'
Outstanding at May 31, 2014	46,384,919	22,430,000
Options exercisable at May 31, 2014	23,718,247	'
Weighted Average Exercise Price	'	'
Outstanding at August 31, 2013	$0.11	'
Options granted	$0.08	'
Options exercised	$0.10	'
Options forfeited	$0.29	'
Options cancelled	'	'
Outstanding at May 31, 2014	$0.09	$0.11
Options exercisable at May 31, 2014	$0.10	'
Total Weighted Average Intrinsic Value	'	'
Outstanding at August 31, 2013	$0.19	'
Options granted	$0.15	'
Options exercised	'	'
Options forfeited	'	'
Options cancelled	'	'
Outstanding at May 31, 2014	$0.12	$0.19
Options exercisable at May 31, 2014	$0.09	'
Weighted Average Remaining Contactual Life (in years)	'	'
Outstanding	'4 years 9 months 18 days	'4 years 6 months 4 days
Options granted	'8 years 7 months 13 days	'
Options exercised	'	'
Options forfeited	'	'
Options cancelled	'	'
Options exercisable at May 31, 2014	'11 months 19 days	'

INCOME_TAXES_Schedule_of_Incom

INCOME TAXES (Schedule of Income Tax Expense (Benefit)) (Details) (USD $)	3 Months Ended		9 Months Ended
	31-May-14	31-May-13	31-May-14	31-May-13
INCOME TAXES [Abstract]	'	'	'	'
Current tax expense	'	'	'	'
Deferred tax expense (benefit)	'	'	'	190,652
Total income tax expense (benefit)	'	'	'	$190,652

INCOME_TAXES_Narrative_Details

INCOME TAXES (Narrative) (Details) (USD $)	9 Months Ended	12 Months Ended
	31-May-14	Aug. 31, 2013
Operating Loss Carryforwards [Line Items]	'	'
Statutory rate	35.00%	'
Effective tax rate	0.00%	'
Net operating losses	'	$1,974,000
Net operating losses carried forward, expiration date	'	31-Aug-32
Israel [Member] | Available To Be Carried Forward Indefinitely [Member]	'	'
Operating Loss Carryforwards [Line Items]	'	'
Net operating losses	'	$340,000

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details)	31-May-14	Aug. 31, 2013	31-May-14	31-May-14	31-May-14
	USD ($)	USD ($)	Short-term Loan [Member]	GA Singapore Ltd. [Member]	GA Singapore Ltd. [Member]
			USD ($)	Two Loan Agreements [Member]	Two Loan Agreements [Member]
				USD ($)	ILS
Related Party Transaction [Line Items]	'	'	'	'	'
Amount	'	'	$200,000	$443,660	1,556,143
Interest rate	'	'	8.00%	'	'
Maturity	'	'	31-May-13	'	'
Principal and accrued interest	'	'	202,543	'	'
Accrued interest	$35,134	$3,906	$2,543	'	'

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (USD $)	31-May-14	31-May-14	Jul. 09, 2014	Jun. 10, 2014	Jun. 24, 2014	Jun. 24, 2014
		Convertible Debentures [Member]	Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]
				Infinity Israel Employee [Member]	ALS Capital Ventures LLC [Member]	ALS Capital Ventures LLC [Member]
						Convertible Debentures [Member]
Subsequent Event [Line Items]	'	'	'	'	'	'
Options granted	'	'	'	50,000	'	'
Options granted, exercise price	'	'	'	$0.11	'	'
Vesting period	'	'	'	'3 years	'	'
Stock option, expiration date	'	'	'	10-Jun-19	'	'
Interest rate	'	1.20%	'	'	'	1.20%
Shares of common stock issuable upon conversion of debt	'	'	'	'	'	4,944,000
Conversion price	'	'	'	'	'	$0.25
Number of shares available for warrants exercised	'	'	1,000,000	'	'	4,944,044
Exercise price of warrants	$0.01	'	'	'	'	$0.50
Aggregate proceeds from debentures and warrants issued	'	'	$250,000	'	'	'
Total purchase price of Securities Purchase Agreement	'	'	'	'	1,236,000	'
Cash proceeds from Securities Purchase Agreement	'	'	'	'	1,100,000	'
Payable forgiveness	'	'	'	'	$136,000	'