Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Feb. 28, 2014 | Apr. 14, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 28-Feb-14 | ' |
Entity Registrant Name | 'OBJ Enterprises, Inc. | ' |
Entity Central Index Key | '0001489256 | ' |
Current Fiscal Year End Date | '--08-31 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Document Fiscal Year Focus | '2014 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Shares Outstanding | ' | 22,989,939 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Feb. 28, 2014 | Aug. 31, 2013 |
CURRENT ASSETS | ' | ' |
Cash and cash equivalents | $15,768 | $75,190 |
Accounts receivable | 277 | ' |
Total current assets | 16,045 | 75,190 |
TOTAL ASSETS | 16,045 | 75,190 |
CURRENT LIABILITIES | ' | ' |
Accounts payable and accrued liabilities | 171,799 | 92,381 |
Current portion of convertible notes payable, net of discount of $0 and $306 | 4,645 | 76,311 |
Total current liabilities | 176,444 | 168,692 |
Convertible notes payable, net of discount of $464,244 and $521,630, respectively. | 34,455 | 41,642 |
TOTAL LIABILITIES | 210,899 | 210,334 |
STOCKHOLDERS' DEFICIT | ' | ' |
Preferred Stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding at February 28, 2014 and August 31, 2013, respectively. | ' | ' |
Common Stock, $0.0001 par value; 100,000,000 shares authorized; 20,989,939 shares issued and outstanding at February 28, 2014 and August 31, 2013, respectively. | 2,099 | 1,523 |
Additional paid-in capital | 3,373,914 | 2,898,220 |
Deficit accumulated during the development stage | -3,570,867 | -3,034,887 |
Total stockholders' deficit | -194,854 | -135,144 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $16,045 | $75,190 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Feb. 28, 2014 | Aug. 31, 2013 |
Consolidated Balance Sheets [Abstract] | ' | ' |
Debt instrument, current discount | ' | $306 |
Debt instrument, unamortized discount | $464,244 | $521,630 |
Preferred stock, par value per share | $0.00 | $0.00 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | ' | ' |
Preferred stock, shares outstanding | ' | ' |
Common stock, par value per share | $0.00 | $0.00 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 20,989,939 | 20,989,939 |
Common stock, shares outstanding | 20,989,939 | 20,989,939 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 6 Months Ended | 53 Months Ended | ||
Feb. 28, 2014 | Feb. 28, 2013 | Feb. 28, 2014 | Feb. 28, 2013 | Feb. 28, 2014 | |
REVENUE | ' | ' | ' | ' | ' |
Software sales | ' | ' | $525 | ' | $525 |
GROSS PROFIT | ' | ' | 525 | ' | 525 |
OPERATING EXPENSES | ' | ' | ' | ' | ' |
General and administrative expenses | 136,910 | 145,683 | 272,578 | 203,692 | 2,429,739 |
Loss on acquisition of 20% of Novalon | ' | ' | 25,000 | ' | 25,000 |
Impairment of investment in joint venture | ' | ' | ' | ' | 191,500 |
LOSS FROM OPERATIONS | -136,910 | -145,683 | -297,053 | -203,692 | -2,645,714 |
OTHER INCOME (EXPENSE) | ' | ' | ' | ' | ' |
Interest expense | -180,452 | -85,125 | -238,927 | -199,708 | -925,153 |
NET LOSS | ($317,362) | ($230,808) | ($535,980) | ($403,400) | ($3,570,867) |
NET LOSS PER COMMON SHARE ? Basic and fully diluted | ($0.01) | ($0.03) | ($0.03) | ($0.09) | ' |
COMMON SHARES OUTSTANDING Basic and fully diluted | ' | 7,335,238 | 18,043,981 | 4,466,567 | ' |
Consolidated_Statement_of_Chan
Consolidated Statement of Changes in Stockholders' Equity (Deficit) (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] |
Balance at Sep. 21, 2009 | ' | ' | ' | ' |
Balance, shares at Sep. 21, 2009 | ' | ' | ' | ' |
Issuance of common stock for cash | 9,000 | 23 | ' | ' |
Issuance of common stock for cash, shares | ' | 225,000 | 8,977 | ' |
Issuance of common stock for cash (2) | 52,500 | 8 | 52,492 | ' |
Issuance of common stock for cash (2), shares | ' | 75,000 | ' | ' |
Net loss | -20,572 | ' | ' | -20,572 |
Balance at Aug. 31, 2010 | 40,928 | 31 | 61,469 | -20,572 |
Balance, shares at Aug. 31, 2010 | ' | 300,000 | ' | ' |
Issuance of common stock for services | 620,000 | 3 | 619,997 | ' |
Issuance of common stock for services, shares | ' | 37,500 | ' | ' |
Net loss | -1,267,017 | ' | ' | -1,267,017 |
Balance at Aug. 31, 2011 | -606,089 | 34 | 681,466 | -1,287,589 |
Balance, shares at Aug. 31, 2011 | ' | 337,500 | ' | ' |
Issuance of common stock for conversion of debt | 241,853 | 25 | 241,828 | ' |
Issuance of common stock for conversion of debt, shares | ' | 247,500 | ' | ' |
Issuance of common stock for services | 315,000 | 2 | 314,998 | ' |
Issuance of common stock for services, shares | ' | 22,500 | ' | ' |
Discount on convertible notes payable | 436,913 | ' | 436,913 | ' |
Net loss | -886,997 | ' | ' | ' |
Balance at Aug. 31, 2012 | -499,320 | 61 | 1,675,205 | -2,174,586 |
Balance, shares at Aug. 31, 2012 | ' | 607,500 | ' | ' |
Shares issued for rounding due to stock split | ' | 539 | ' | ' |
Issuance of common stock for conversion of debt | 479,860 | 1,462 | 478,398 | ' |
Issuance of common stock for conversion of debt, shares | ' | 14,626,300 | ' | ' |
Discount on convertible notes payable | 744,617 | ' | 744,617 | ' |
Net loss | -860,301 | ' | ' | -860,301 |
Balance at Aug. 31, 2013 | -135,144 | 1,523 | 2,898,220 | -3,034,887 |
Balance, shares at Aug. 31, 2013 | 20,989,939 | 15,234,339 | ' | ' |
Issuance of common stock for conversion of debt | 317,780 | 576 | 317,204 | ' |
Issuance of common stock for conversion of debt, shares | ' | 5,755,600 | ' | ' |
Discount on convertible notes payable | 158,490 | ' | 158,490 | ' |
Net loss | -535,980 | ' | ' | -535,980 |
Balance at Feb. 28, 2014 | ($194,854) | $2,099 | $3,373,914 | ($3,570,867) |
Balance, shares at Feb. 28, 2014 | 20,989,939 | 20,989,939 | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 6 Months Ended | 53 Months Ended | |
Feb. 28, 2014 | Feb. 28, 2013 | Feb. 28, 2014 | |
OPERATING ACTIVITIES: | ' | ' | ' |
Net loss | ($535,980) | ($403,400) | ($3,570,867) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' |
Common stock issued for services | ' | ' | 935,000 |
Loss on acquisition of 20% of Novalon | 25,000 | ' | 25,000 |
Amortization of discount on convertible note payable | 216,182 | 185,270 | 826,629 |
Changes in operating assets and liabilities: | ' | ' | ' |
Accounts receivable | -277 | ' | -277 |
Accounts payable and accrued liabilities | 79,418 | 73,764 | 171,799 |
Accrued interest payable | 22,745 | 14,438 | 98,524 |
NET CASH USED IN OPERATING ACTIVITIES | -192,912 | -129,928 | -1,514,192 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' |
Cash paid to acquire 20% of Novalon | -25,000 | ' | -25,000 |
NET CASH USED IN INVESTING ACTIVITIES | -25,000 | ' | -25,000 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' |
Proceeds from issuance of common stock | ' | ' | 61,500 |
Proceeds from advances | 158,490 | 140,351 | 1,493,460 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 158,490 | 140,351 | 1,554,960 |
NET INCREASE (DECREASE) IN CASH | -59,422 | 10,423 | 15,768 |
CASH, at the beginning of the period | 75,190 | 2,652 | ' |
CASH, at the end of the period | 15,768 | 13,075 | 15,768 |
Cash paid during the period for: | ' | ' | ' |
Interest Paid | ' | ' | ' |
Income Taxes Paid | ' | ' | ' |
Noncash investing and financing transaction: | ' | ' | ' |
Common stock issued for services | ' | ' | 935,000 |
Refinance of advances into convertible notes payable | 158,490 | 248,272 | 158,490 |
Beneficial conversion on convertible note payable | 158,490 | 248,272 | 158,490 |
Conversion of convertible notes payable. | $317,780 | $170,860 | $1,037,378 |
General_Organization_and_Busin
General Organization and Business | 6 Months Ended |
Feb. 28, 2014 | |
General Organization and Business [Abstract] | ' |
General Organization and Business | ' |
Note 1. General Organization and Business | |
OBJ Enterprises, Inc. (the "Company" or "OBJE"), a Florida corporation, was originally formed as Obscene Jeans Corp. to design, develop, wholesale, market, distribute and sell a woman's line of apparel using the name "Obscene Brand Jeans." On July 27, 2012, the Company changed its name to OBJ Enterprises, Inc. | |
On November 10, 2011, the Company formed Obscene Interactive, LLC ("Obscene Interactive"), a wholly-owned subsidiary to pursue emerging opportunities in the digital gaming industry. Obscene Interactive actively pursues potential acquisition targets in the online and social media industry while exploring consumer gaming trends to develop games internally through joint venture agreements and partnerships. | |
On May 9, 2012, the Company engaged Street Source, LLC to act as an independent gaming developer for the Company through a joint venture agreement. The joint venture agreement was revised on June 9, 2012 ("Revised Joint Venture Agreement"). Under the terms of the Revised Joint Venture Agreement, we are required to provide oversight and management toward the development of online and social games. Source Street will identify and coordinate the development team. We will provide funding for the joint venture in the amount of $2,500 per week during the period of development of the first game. Ownership of the game and profits and losses will be split 80% to OBJE and 20% to Source Street. The Revised Joint Venture Agreement can be terminated by a 30-day notice from either party. The primary focus of this partnership is to develop online and social games that leverage emerging consumer gaming portals; such as smart phones and mobile devices. | |
On May 21, 2013, the parties to the joint venture agreement formed Novalon Technologies, LLC ("Novalon") to act as the operating entity for the joint venture. At that time, the Company owned 80% of Novalon. | |
On October 4, 2013, OBJE purchased Source Street's 20% interest in Novalon and Source Street's rights to the Novalon games and any profits that resulted from the Revised Joint Venture Agreement. As a result of the purchase, Novalon's brand name and intellectual property under Novalon Games are collectively a wholly owned subsidiary of the Company. OBJE paid a total of $25,000 to acquire the 20% interest from Source Street, with $20,000 paid immediately and the remaining $5,000 was paid upon the successful completion of the Creature Taverns game. The Novalon acquisition was an acquisition of a company already controlled by OBJE, and as such the purchase price paid for Novalon was not recognized on the balance sheet since Novalon had no assets prior to the acquisition. In accordance with ASC 985-20-25-1, all costs incurred to establish technological feasibility of a computer software product to be sold are research and development costs. As a result, the costs to acquire Novalon were expensed as a loss on the acquisition of 20% of Novalon. | |
The Company was incorporated on September 21, 2009 (Date of Inception) with its corporate headquarters located in Sarasota, Florida. Its fiscal year-end is August 31. |
Going_Concern
Going Concern | 6 Months Ended |
Feb. 28, 2014 | |
Going Concern [Abstract] | ' |
Going Concern | ' |
Note 2. Going Concern | |
The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As of February 28, 2014, the Company has generated net losses since inception of $3,570,867. For the six months ended February 28, 2014, the company has a net loss of $535,980 and negative cash flow from operating activities of $192,912. As of February 28, 2014, the Company has negative working capital of $130,242. The Company has has not emerged from the development stage | |
These factors raise a substantial doubt about the Company's ability to continue as a going concern. The accompanying condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the possible inability of the Company to continue as a going concern. | |
The Company does not have the resources at this time to repay its credit and debt obligations, make any payments in the form of dividends to its shareholders or fully implement its business plan. Without additional capital, the Company will not be able to remain in business. | |
Management has plans to address the Company's financial situation as follows: | |
In the near term, management plans to continue to focus on raising the funds necessary to fully implement the Company's business plan. Management will continue to seek out debt financing to obtain the capital required to meet the Company's financial obligations. There is no assurance, however, that lenders will continue to advance capital to the Company or that the new business operations will be profitable. The possibility of failure in obtaining additional funding and the potential inability to achieve profitability raise doubts about the Company's ability to continue as a going concern. | |
In the long term, management believes that the Company's projects and initiatives will be successful and will provide cash flow to the Company which will be used to finance the Company's future growth. However, there can be no assurances that the Company's planned activities will be successful, or that the Company will ultimately attain profitability. The Company's long term viability depends on its ability to obtain adequate sources of debt or equity funding to meet current commitments and fund the continuation of its business operations, and the ability of the Company to ultimately achieve adequate profitability and cash flows from operations to sustain its operations. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 6 Months Ended | ||
Feb. 28, 2014 | |||
Summary of Significant Accounting Policies [Abstract] | ' | ||
Summary of Significant Accounting Policies | ' | ||
Note 3. Summary of Significant Accounting Policies | |||
Interim Financial Statements | |||
The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and such adjustments are of a normal recurring nature. These financial statements should be read in conjunction with the financial statements for the fiscal year ended August 31, 2013 and notes thereto and other pertinent information contained in our Form 10-K the Company has filed with the Securities and Exchange Commission (the "SEC"). | |||
The results of operations for the six month period ended February 28, 2014 are not necessarily indicative of the results to be expected for the full fiscal year ending August 31, 2014. | |||
Basis of Presentation | |||
The consolidated financial statements and related disclosures have been prepared pursuant to the rules and regulations of the SEC. The consolidated financial statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles ("GAAP") of the United States. See Note 2 regarding the assumption that the Company is a going concern. | |||
Development Stage Entity | |||
The Company is a development stage company as defined by section ASC 915, Development Stage Entities. The Company is still devoting substantially all of its efforts on establishing the business and its planned principal operations have not commenced. All losses accumulated since inception have been considered as part of the Company's development stage activities. The Company began generating revenue during the three months ended November 30, 2013. Once revenue exceeds a nominal amount, the Company expects to exit the development stage. | |||
Principles of Consolidation | |||
The condensed consolidated Financial Statements and related disclosures have been prepared pursuant to the rules and regulations of the SEC. The Financial Statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles ("GAAP") of the United States (See Note 2 regarding the assumption that the Company is a "going concern"). | |||
Use of Estimates | |||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. | |||
Cash and Cash Equivalents | |||
For the purpose of the financial statements, cash equivalents include all highly liquid investments with maturity of three months or less. Cash and cash equivalents were $15,768 and $75,190 at February 28, 2014 and August 31, 2013, respectively. | |||
Cash Flows Reporting | |||
The Company follows ASC 230, Statement of Cash Flows, for cash flows reporting, classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method ("Indirect method") as defined by ASC 230, Statement of Cash Flows, to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. The Company reports the reporting currency equivalent of foreign currency cash flows, using the current exchange rate at the time of the cash flows and the effect of exchange rate changes on cash held in foreign currencies is reported as a separate item in the reconciliation of beginning and ending balances of cash and cash equivalents and separately provides information about investing and financing activities not resulting in cash receipts or payments in the period. | |||
Financial Instruments | |||
The Company's balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period between the origination of these instruments and their expected realization. | |||
FASB Accounting Standards Codification (ASC) 820 Fair Value Measurements and Disclosures (ASC 820) defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: | |||
Level 1 - | Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. | ||
Level 2 - | Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. | ||
Level 3 - | Inputs that are both significant to the fair value measurement and unobservable. | ||
Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of February 28, 2014. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accounts receivable, other current assets, accounts payable, and accrued expenses. The fair value of the Company's notes payable is estimated based on current rates that would be available for debt of similar terms that is not significantly different from its stated value. | |||
Share-based Expense | |||
ASC 718, Compensation - Stock Compensation, prescribes accounting and reporting standards for all share-based payment transactions in which employee services are acquired. Transactions include incurring liabilities, or issuing or offering to issue shares, options, and other equity instruments such as employee stock ownership plans and stock appreciation rights. Share-based payments to employees, including grants of employee stock options, are recognized as compensation expense in the financial statements based on their fair values. That expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period). | |||
The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, Equity - Based Payments to Non-Employees. Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The fair value of the share-based payment transaction is determined at the earlier of performance commitment date or performance completion date. | |||
Revenue Recognition | |||
The Company follows ASC 605, Revenue Recognition and ASC 985-605, Software: Revenue Recognition. Our revenue is derived from the sale of mobile game downloads which are delivered electronically through the Google Play or iTunes platforms. Our revenue is classified as product revenue. | |||
We evaluate and recognize revenue when all four of the following criteria are met: | |||
· | Evidence of an arrangement. Evidence of an agreement with the customer that reflects the terms and conditions to deliver the related products or services must be present. | ||
· | Fixed or determinable fee. Our games are sold at a fixed price, which is published on the Google Play and iTunes platforms. | ||
· | Collection is deemed probable. Collection is deemed probable if we expect the customer to be able to pay amounts under the arrangement as those amounts become due. Customers pay for our games prior to downloading them; however, we must still collect those funds from Google or Apple. | ||
· | Delivery. For digital downloads, delivery is considered to occur when the software is made available to the customer for download. | ||
Recently Issued Accounting Pronouncements | |||
We have reviewed the FASB issued Accounting Standards Update ("ASU") accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. The Company has carefully considered the new pronouncements that alter previous generally accepted accounting principles and does not believe that any new or modified principles will have a material impact on the corporation's reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of our financial management and certain standards are under consideration. |
Advances
Advances | 6 Months Ended |
Feb. 28, 2014 | |
Advances [Abstract] | ' |
Advances | ' |
Note 4. Advances | |
During the six months ended February 28, 2014, the Company received net, non-interest bearing advances from certain third parties totaling $158,490. No amounts were due under these advances as of February 28, 2014 and August 31, 2013. These advances were not collateralized and were due on demand. |
Convertible_notes_payable
Convertible notes payable | 6 Months Ended | |||||||
Feb. 28, 2014 | ||||||||
Convertible Notes Payable [Abstract] | ' | |||||||
Convertible Notes Payable | ' | |||||||
Note 5. Convertible Notes Payable | ||||||||
Convertible notes payable consist of the following as of February 28, 2014 and August 31, 2013: | ||||||||
February 28, | August 31, | |||||||
2014 | 2013 | |||||||
Convertible note payable, dated August 31, 2011, bearing interest at 10% per annum, matures on August 31, 2013 and convertible into shares of common stock at $0.05 per share. | - | 19,468 | ||||||
Convertible note payable, dated January 31, 2013, bearing interest at 10% per annum, matures on January 31, 2015 and convertible into shares of common stock at $0.10 | 243 | 50,412 | ||||||
Convertible note payable, dated May 31, 2013, bearing interest at 10% per annum, matures on May 31, 2015 and convertible into shares of common stock at $0.05 | - | 172,450 | ||||||
Convertible note payable, dated August 31, 2013, bearing interest at 10% per annum, matures on August 31, 2015 and convertible into shares of common stock at $0.05 | 323,895 | 323,895 | ||||||
Convertible note payable, dated February 28, 2014, bearing interest at 10% per annum, matures on February 28, 2016 and convertible into shares of common stock at $0.05 | 158,490 | - | ||||||
Accrued interest payable | 20,716 | 73,664 | ||||||
Total convertible notes payable and accrued interest | 503,344 | 639,889 | ||||||
Less: current portion of convertible notes payable and accrued interest | (4,645 | ) | (76,617 | ) | ||||
Less: discount on noncurrent convertible notes payable | (464,244 | ) | (521,630 | ) | ||||
Noncurrent convertible notes payable, net of discount | $ | 34,455 | $ | 41,642 | ||||
The Company accrued interest in the amount of $22,745 during the six months ended February 28, 2014. This amount was unpaid as of February 28, 2014 and is included in convertible notes payable as of that date. During the same period, the Company amortized $216,182 of the discount on convertible notes payable to interest expense. | ||||||||
During the six months ended February 28, 2014, the holders of the Convertible Note Payable dated August 31, 2011 elected to convert principal and accrued interest in the amounts shown below into shares of common stock at a rate of $0.05 per share. On the conversion date, the unamortized discount related to the principal amount converted was immediately amortized to interest expense. No gain or loss was recognized on the conversions, as they occurred within the terms of the agreement. | ||||||||
Date | Amount Converted | Common Shares Issued | Unamortized Discount | |||||
1-Oct-13 | $ 30,000 | 600,000 | $ - | |||||
4-Oct-13 | 30,000 | 600,000 | - | |||||
15-Oct-13 | 15,000 | 300,000 | - | |||||
Total | $ 75,000 | 1,500,000 | $ - | |||||
During the six months ended February 28, 2014, the holders of the Convertible Note Payable dated January 31, 2013, elected to convert principal and accrued interest in the amounts shown below into shares of common stock at a rate of $0.10 per share. On the conversion date, the unamortized discount related to the principal amount converted was immediately amortized to interest expense. No gain or loss was recognized on the conversions as they occurred within the terms of the agreement. | ||||||||
Date | Amount Converted | Common Shares Issued | Unamortized Discount | |||||
8-Oct-13 | $ 60,000 | 600,000 | $ 21,805 | |||||
Total | $ 60,000 | 600,000 | $ 21,805 | |||||
During the six months ended February 28, 2014, the holders of the Convertible Note Payable dated May 31, 2013, elected to convert principal and accrued interest in the amounts shown below into shares of common stock at a rate of $0.05 per share. On the conversion date, the unamortized discount related to the principal amount converted was immediately amortized to interest expense. | ||||||||
Date | Amount Converted | Common Shares Issued | Unamortized Discount | |||||
2-Dec-13 | $ 80,000 | 1,600,000 | $ 67,263 | |||||
20-Jan-14 | 40,000 | 800,000 | 36,004 | |||||
29-Jan-14 | 40,000 | 800,000 | 36,929 | |||||
11-Feb-14 | 22,780 | 455,600 | 20,259 | |||||
Total | $ 182,780 | 3,655,600 | $ 160,455 | |||||
On February 28, 2014, the Company signed a Convertible Promissory Note which refinanced non-interest bearing advances in the amount of $158,490 into a convertible note payable. The Convertible Promissory Note bears interest at 10% per annum and is payable along with accrued interest on February 29, 2016. The Convertible Promissory Note is convertible into common stock at the option of the holder at the rate of $0.05 per share. | ||||||||
The Company evaluated the terms of this note in accordance with ASC 815 - 40, Derivatives and Hedging - Contracts in Entity's Own Stock and determined that the underlying common stock is indexed to the Company's common stock. The Company determined that the conversion feature did not meet the definition of a liability and therefore did not bifurcate the conversion feature and account for it as a separate derivative liability. The Company evaluated the conversion feature for a beneficial conversion feature. The effective conversion price was compared to the market price on the date of the note and was deemed to be less than the market value of underlying common stock at the inception of the note. Therefore, the Company recognized a beneficial conversion feature in the amount of $158,490 on February 28, 2014. The beneficial conversion feature was recognized as an increase in additional paid-in capital and a discount to the Convertible Note Payable. The discount to the Convertible Note Payable is being amortized to interest expense over the life of the note. | ||||||||
The Company evaluated the application of ASC 470-50-40/55, Debtor's Accounting for a Modification or Exchange of Debt Instrument as it applies to the three notes listed above and concluded that the revised terms constituted a debt modification rather than a debt extinguishment because the present value of the cash flow under the terms of each of the new instruments was less than 10% from the present value of the remaining cash flows under the terms of the original notes. No gain or loss on the modifications was required to be recognized. |
Stockholders_Equity
Stockholders' Equity | 6 Months Ended | |||||
Feb. 28, 2014 | ||||||
Stockholders' Equity [Abstract] | ' | |||||
Stockholders' Equity | ' | |||||
Note 6. Stockholders' Equity | ||||||
Preferred Stock | ||||||
The Company's Board of Directors has authorized 10,000,000 shares of preferred stock with a par value of $0.0001 to be issued in series with terms and conditions to be determined by the Board of Directors. As of February 28, 2014 and August 31, 2013, no preferred stock was issued or outstanding. | ||||||
Common Stock | ||||||
The Company has authorized 100,000,000 shares of $0.0001 par value common stock. There were 20,989,939 and 15,234,339 shares of common stock outstanding as of February 28, 2014 and August 31, 2013, respectively. | ||||||
During the six months ended February 28, 2014 the company has issued shares of common stock as a result of the conversion of Convertible Note Payable, as detailed in the following table: | ||||||
Date | Amount Converted | Common Shares Issued | ||||
1-Oct-13 | 30,000 | 600,000 | ||||
4-Oct-13 | 30,000 | 600,000 | ||||
8-Oct-13 | 60,000 | 600,000 | ||||
15-Oct-13 | 15,000 | 300,000 | ||||
2-Dec-13 | 80,000 | 1,600,000 | ||||
20-Jan-14 | 40,000 | 800,000 | ||||
29-Jan-14 | 40,000 | 800,000 | ||||
11-Feb-14 | 22,780 | 455,600 | ||||
Total | $ 317,780 | 5,755,600 |
Subsequent_Events
Subsequent Events | 6 Months Ended | ||||||
Feb. 28, 2014 | |||||||
Subsequent Events [Abstract] | ' | ||||||
Subsequent Events | ' | ||||||
Note 7. Subsequent Events | |||||||
On March 5, 2014 OBJE signed a new licensing agreement with Corv Studios, the creator of Pac-Ball. OBJE plans to develop new marketing and optimization strategies to maximize the title's revenues. | |||||||
Subsequent to February 28, 2014, the holders of the Convertible Note Payable dated August 31, 2013, elected to convert principal and accrued interest in the amounts shown below into shares of common stock at a rate of $0.05 per share. On the conversion date, the unamortized discount related to the principal amount converted was immediately amortized to interest expense. | |||||||
Date | Amount Converted | Common Shares Issued | Unamortized Discount | ||||
14-Mar-14 | $ 50,000 | 1,000,000 | $ 30,864 | ||||
21-Mar-14 | 50,000 | 1,000,000 | 46,357 | ||||
Total | $ 100,000 | 2,000,000 | $ 77,221 |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 6 Months Ended | ||
Feb. 28, 2014 | |||
Summary of Significant Accounting Policies [Abstract] | ' | ||
Interim Financial Statements | ' | ||
Interim Financial Statements | |||
The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and such adjustments are of a normal recurring nature. These financial statements should be read in conjunction with the financial statements for the fiscal year ended August 31, 2013 and notes thereto and other pertinent information contained in our Form 10-K the Company has filed with the Securities and Exchange Commission (the "SEC"). | |||
The results of operations for the six month period ended February 28, 2014 are not necessarily indicative of the results to be expected for the full fiscal year ending August 31, 2014. | |||
Basis of Presentation | ' | ||
Basis of Presentation | |||
The consolidated financial statements and related disclosures have been prepared pursuant to the rules and regulations of the SEC. The consolidated financial statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles ("GAAP") of the United States. See Note 2 regarding the assumption that the Company is a going concern. | |||
Development Stage Entity | ' | ||
Development Stage Entity | |||
The Company is a development stage company as defined by section ASC 915, Development Stage Entities. The Company is still devoting substantially all of its efforts on establishing the business and its planned principal operations have not commenced. All losses accumulated since inception have been considered as part of the Company's development stage activities. The Company began generating revenue during the three months ended November 30, 2013. Once revenue exceeds a nominal amount, the Company expects to exit the development stage. | |||
Principles of Consolidation | ' | ||
Principles of Consolidation | |||
The condensed consolidated Financial Statements and related disclosures have been prepared pursuant to the rules and regulations of the SEC. The Financial Statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles ("GAAP") of the United States (See Note 2 regarding the assumption that the Company is a "going concern"). | |||
Use of Estimates | ' | ||
Use of Estimates | |||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. | |||
Cash and cash equivalents | ' | ||
Cash and Cash Equivalents | |||
For the purpose of the financial statements, cash equivalents include all highly liquid investments with maturity of three months or less. Cash and cash equivalents were $15,768 and $75,190 at February 28, 2014 and August 31, 2013, respectively. | |||
Cash Flows Reporting | ' | ||
Cash Flows Reporting | |||
The Company follows ASC 230, Statement of Cash Flows, for cash flows reporting, classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method ("Indirect method") as defined by ASC 230, Statement of Cash Flows, to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. The Company reports the reporting currency equivalent of foreign currency cash flows, using the current exchange rate at the time of the cash flows and the effect of exchange rate changes on cash held in foreign currencies is reported as a separate item in the reconciliation of beginning and ending balances of cash and cash equivalents and separately provides information about investing and financing activities not resulting in cash receipts or payments in the period. | |||
Financial instruments | ' | ||
Financial Instruments | |||
The Company's balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period between the origination of these instruments and their expected realization. | |||
FASB Accounting Standards Codification (ASC) 820 Fair Value Measurements and Disclosures (ASC 820) defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: | |||
Level 1 - | Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. | ||
Level 2 - | Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. | ||
Level 3 - | Inputs that are both significant to the fair value measurement and unobservable. | ||
Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of February 28, 2014. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accounts receivable, other current assets, accounts payable, and accrued expenses. The fair value of the Company's notes payable is estimated based on current rates that would be available for debt of similar terms that is not significantly different from its stated value. | |||
Share-based Expense | ' | ||
Share-based Expense | |||
ASC 718, Compensation - Stock Compensation, prescribes accounting and reporting standards for all share-based payment transactions in which employee services are acquired. Transactions include incurring liabilities, or issuing or offering to issue shares, options, and other equity instruments such as employee stock ownership plans and stock appreciation rights. Share-based payments to employees, including grants of employee stock options, are recognized as compensation expense in the financial statements based on their fair values. That expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period). | |||
The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, Equity - Based Payments to Non-Employees. Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The fair value of the share-based payment transaction is determined at the earlier of performance commitment date or performance completion date. | |||
Revenue Recognition | ' | ||
Revenue Recognition | |||
The Company follows ASC 605, Revenue Recognition and ASC 985-605, Software: Revenue Recognition. Our revenue is derived from the sale of mobile game downloads which are delivered electronically through the Google Play or iTunes platforms. Our revenue is classified as product revenue. | |||
We evaluate and recognize revenue when all four of the following criteria are met: | |||
· | Evidence of an arrangement. Evidence of an agreement with the customer that reflects the terms and conditions to deliver the related products or services must be present. | ||
· | Fixed or determinable fee. Our games are sold at a fixed price, which is published on the Google Play and iTunes platforms. | ||
· | Collection is deemed probable. Collection is deemed probable if we expect the customer to be able to pay amounts under the arrangement as those amounts become due. Customers pay for our games prior to downloading them; however, we must still collect those funds from Google or Apple. | ||
· | Delivery. For digital downloads, delivery is considered to occur when the software is made available to the customer for download. | ||
Recently Issued Accounting Pronouncements | ' | ||
Recently Issued Accounting Pronouncements | |||
We have reviewed the FASB issued Accounting Standards Update ("ASU") accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. The Company has carefully considered the new pronouncements that alter previous generally accepted accounting principles and does not believe that any new or modified principles will have a material impact on the corporation's reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of our financial management and certain standards are under consideration. |
Convertible_notes_payable_Tabl
Convertible notes payable (Tables) | 6 Months Ended | |||||||
Feb. 28, 2014 | ||||||||
Debt Instrument [Line Items] | ' | |||||||
Schedule of Convertible Notes Having Been Converted | ' | |||||||
Convertible notes payable consist of the following as of February 28, 2014 and August 31, 2013: | ||||||||
February 28, | August 31, | |||||||
2014 | 2013 | |||||||
Convertible note payable, dated August 31, 2011, bearing interest at 10% per annum, matures on August 31, 2013 and convertible into shares of common stock at $0.05 per share. | - | 19,468 | ||||||
Convertible note payable, dated January 31, 2013, bearing interest at 10% per annum, matures on January 31, 2015 and convertible into shares of common stock at $0.10 | 243 | 50,412 | ||||||
Convertible note payable, dated May 31, 2013, bearing interest at 10% per annum, matures on May 31, 2015 and convertible into shares of common stock at $0.05 | - | 172,450 | ||||||
Convertible note payable, dated August 31, 2013, bearing interest at 10% per annum, matures on August 31, 2015 and convertible into shares of common stock at $0.05 | 323,895 | 323,895 | ||||||
Convertible note payable, dated February 28, 2014, bearing interest at 10% per annum, matures on February 28, 2016 and convertible into shares of common stock at $0.05 | 158,490 | - | ||||||
Accrued interest payable | 20,716 | 73,664 | ||||||
Total convertible notes payable and accrued interest | 503,344 | 639,889 | ||||||
Less: current portion of convertible notes payable and accrued interest | (4,645 | ) | (76,617 | ) | ||||
Less: discount on noncurrent convertible notes payable | (464,244 | ) | (521,630 | ) | ||||
Noncurrent convertible notes payable, net of discount | $ | 34,455 | $ | 41,642 | ||||
Convertible Promissory Note dated January 31, 2013 [Member] | ' | |||||||
Debt Instrument [Line Items] | ' | |||||||
Schedule of Convertible Notes Having Been Converted | ' | |||||||
Date | Amount Converted | Common Shares Issued | Unamortized Discount | |||||
1-Oct-13 | $ 30,000 | 600,000 | $ - | |||||
4-Oct-13 | 30,000 | 600,000 | - | |||||
15-Oct-13 | 15,000 | 300,000 | - | |||||
Total | $ 75,000 | 1,500,000 | $ - | |||||
Convertible Promissory Note dated August 31, 2011 [Member] | ' | |||||||
Debt Instrument [Line Items] | ' | |||||||
Schedule of Convertible Notes Having Been Converted | ' | |||||||
Date | Amount Converted | Common Shares Issued | Unamortized Discount | |||||
8-Oct-13 | $ 60,000 | 600,000 | $ 21,805 | |||||
Total | $ 60,000 | 600,000 | $ 21,805 | |||||
Convertible Promissory Note dated May 31, 2013 [Member] | ' | |||||||
Debt Instrument [Line Items] | ' | |||||||
Schedule of Convertible Notes Having Been Converted | ' | |||||||
Date | Amount Converted | Common Shares Issued | Unamortized Discount | |||||
2-Dec-13 | $ 80,000 | 1,600,000 | $ 67,263 | |||||
20-Jan-14 | 40,000 | 800,000 | 36,004 | |||||
29-Jan-14 | 40,000 | 800,000 | 36,929 | |||||
11-Feb-14 | 22,780 | 455,600 | 20,259 | |||||
Total | $ 182,780 | 3,655,600 | $ 160,455 |
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 6 Months Ended | |||||
Feb. 28, 2014 | ||||||
Stockholders' Equity [Abstract] | ' | |||||
Conversion of Convertible Note Payable | ' | |||||
During the six months ended February 28, 2014 the company has issued shares of common stock as a result of the conversion of Convertible Note Payable, as detailed in the following table: | ||||||
Date | Amount Converted | Common Shares Issued | ||||
1-Oct-13 | 30,000 | 600,000 | ||||
4-Oct-13 | 30,000 | 600,000 | ||||
8-Oct-13 | 60,000 | 600,000 | ||||
15-Oct-13 | 15,000 | 300,000 | ||||
2-Dec-13 | 80,000 | 1,600,000 | ||||
20-Jan-14 | 40,000 | 800,000 | ||||
29-Jan-14 | 40,000 | 800,000 | ||||
11-Feb-14 | 22,780 | 455,600 | ||||
Total | $ 317,780 | 5,755,600 |
Subsequent_Events_Tables
Subsequent Events (Tables) | 6 Months Ended | ||||||
Feb. 28, 2014 | |||||||
Subsequent Events [Abstract] | ' | ||||||
Schedule of Subsequent Events | ' | ||||||
Date | Amount Converted | Common Shares Issued | Unamortized Discount | ||||
14-Mar-14 | $ 50,000 | 1,000,000 | $ 30,864 | ||||
21-Mar-14 | 50,000 | 1,000,000 | 46,357 | ||||
Total | $ 100,000 | 2,000,000 | $ 77,221 |
General_Organization_and_Busin1
General Organization and Business (Details) (USD $) | 1 Months Ended | 6 Months Ended | 53 Months Ended | ||
Oct. 31, 2013 | 31-May-12 | Feb. 28, 2014 | Feb. 28, 2013 | Feb. 28, 2014 | |
General Organization and Business [Abstract] | ' | ' | ' | ' | ' |
Per week funding for joint venture | ' | $2,500 | ' | ' | ' |
Gross Acquisition amount | 25,000 | ' | 25,000 | ' | 25,000 |
Acquisition amount paid immediately | 20,000 | ' | ' | ' | ' |
Remaining acquisition amount | $5,000 | ' | ' | ' | ' |
Going_Concern_Details
Going Concern (Details) (USD $) | 3 Months Ended | 6 Months Ended | 11 Months Ended | 12 Months Ended | 53 Months Ended | ||||
Feb. 28, 2014 | Feb. 28, 2013 | Feb. 28, 2014 | Feb. 28, 2013 | Aug. 31, 2010 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2011 | Feb. 28, 2014 | |
Going Concern [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | $317,362 | $230,808 | $535,980 | $403,400 | $20,572 | $860,301 | $886,997 | $1,267,017 | $3,570,867 |
Working capital | -130,242 | ' | -130,242 | ' | ' | ' | ' | ' | -130,242 |
Net cash used in operations | ' | ' | $192,912 | $129,928 | ' | ' | ' | ' | $1,514,192 |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details) (USD $) | Feb. 28, 2014 | Aug. 31, 2013 | Feb. 28, 2013 | Aug. 31, 2012 | Sep. 21, 2009 |
Summary of Significant Accounting Policies [Abstract] | ' | ' | ' | ' | ' |
Cash and cash equivalents | $15,768 | $75,190 | $13,075 | $2,652 | ' |
Advances_Details
Advances (Details) (USD $) | 6 Months Ended | 53 Months Ended | |
Feb. 28, 2014 | Feb. 28, 2013 | Feb. 28, 2014 | |
Advances [Abstract] | ' | ' | ' |
Proceeds from advances | $158,490 | $140,351 | $1,493,460 |
Convertible_notes_payable_Narr
Convertible notes payable (Narrative) (Details) (USD $) | 6 Months Ended | 53 Months Ended | |
Feb. 28, 2014 | Feb. 28, 2013 | Feb. 28, 2014 | |
Debt Instrument [Line Items] | ' | ' | ' |
Interest expense | $22,745 | ' | ' |
Amortization of discount on convertible note payable | $216,182 | $185,270 | $826,629 |
Convertible_notes_payable_Sche
Convertible notes payable (Schedule of Convertible Notes Payable) (Details) (USD $) | 6 Months Ended | |
Feb. 28, 2014 | Aug. 31, 2013 | |
Debt Instrument [Line Items] | ' | ' |
Accrued interest payable | $20,716 | $73,664 |
Total convertible notes payable and accrued interest | 503,344 | 639,889 |
Less: current portion of convertible notes payable and accrued interest | -4,645 | -76,617 |
Less: discount on noncurrent convertible notes payable | -464,244 | -521,630 |
Noncurrent convertible notes payable, net of discount | 34,455 | 41,642 |
Convertible Promissory Note dated August 31, 2011 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, interest rate | 10.00% | ' |
Debt instrument, maturity date | 31-Aug-13 | ' |
Debt conversion, price per share | $0.05 | ' |
Refinance of advances into convertible notes payable | ' | 19,468 |
Convertible Promissory Note dated January 31, 2013 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, interest rate | 10.00% | ' |
Debt instrument, maturity date | 31-Jan-15 | ' |
Debt conversion, price per share | $0.10 | ' |
Refinance of advances into convertible notes payable | 243 | 50,412 |
Convertible Promissory Note dated May 31, 2013 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, interest rate | 10.00% | ' |
Debt instrument, maturity date | 31-May-15 | ' |
Debt conversion, price per share | $0.05 | ' |
Refinance of advances into convertible notes payable | ' | 172,450 |
Convertible Promissory Note dated August 31, 2013 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, interest rate | 10.00% | ' |
Debt instrument, maturity date | 31-Aug-15 | ' |
Debt conversion, price per share | $0.05 | ' |
Refinance of advances into convertible notes payable | 323,895 | 323,895 |
Convertible Promissory Note dated February 28, 2014 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, interest rate | 10.00% | ' |
Debt instrument, maturity date | 28-Feb-16 | ' |
Debt conversion, price per share | $0.05 | ' |
Refinance of advances into convertible notes payable | $158,490 | ' |
Convertible_notes_payable_Sche1
Convertible notes payable (Schedule of Convertible Notes Payable Having Been Converted) (Details) (USD $) | 6 Months Ended |
Feb. 28, 2014 | |
Debt Conversion [Line Items] | ' |
Amount Converted | $317,780 |
Number of Shares Issued | 5,755,600 |
October 1, 2013 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 30,000 |
Number of Shares Issued | 600,000 |
October 4, 2013 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 30,000 |
Number of Shares Issued | 600,000 |
October 15, 2013 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 15,000 |
Number of Shares Issued | 300,000 |
October 8, 2013 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 60,000 |
Number of Shares Issued | 600,000 |
December 2, 2013 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 80,000 |
Number of Shares Issued | 1,600,000 |
January 20, 2014 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 40,000 |
Number of Shares Issued | 800,000 |
January 29, 2014 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 40,000 |
Number of Shares Issued | 800,000 |
February 11, 2014 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 22,780 |
Number of Shares Issued | 455,600 |
Convertible Promissory Note dated August 31, 2011 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 75,000 |
Number of Shares Issued | 1,500,000 |
Unamortized Discount | ' |
Convertible Promissory Note dated August 31, 2011 [Member] | October 1, 2013 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 30,000 |
Number of Shares Issued | 600,000 |
Unamortized Discount | ' |
Convertible Promissory Note dated August 31, 2011 [Member] | October 4, 2013 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 30,000 |
Number of Shares Issued | 600,000 |
Unamortized Discount | ' |
Convertible Promissory Note dated August 31, 2011 [Member] | October 15, 2013 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 15,000 |
Number of Shares Issued | 300,000 |
Unamortized Discount | ' |
Convertible Promissory Note dated January 31, 2013 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 60,000 |
Number of Shares Issued | 600,000 |
Unamortized Discount | 21,805 |
Convertible Promissory Note dated January 31, 2013 [Member] | October 8, 2013 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 60,000 |
Number of Shares Issued | 600,000 |
Unamortized Discount | 21,805 |
Convertible Promissory Note dated May 31, 2013 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 182,780 |
Number of Shares Issued | 3,655,600 |
Unamortized Discount | 160,455 |
Convertible Promissory Note dated May 31, 2013 [Member] | December 2, 2013 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 80,000 |
Number of Shares Issued | 1,600,000 |
Unamortized Discount | 67,263 |
Convertible Promissory Note dated May 31, 2013 [Member] | January 20, 2014 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 40,000 |
Number of Shares Issued | 800,000 |
Unamortized Discount | 36,004 |
Convertible Promissory Note dated May 31, 2013 [Member] | January 29, 2014 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 40,000 |
Number of Shares Issued | 800,000 |
Unamortized Discount | 36,929 |
Convertible Promissory Note dated May 31, 2013 [Member] | February 11, 2014 [Member] | ' |
Debt Conversion [Line Items] | ' |
Amount Converted | 22,780 |
Number of Shares Issued | 455,600 |
Unamortized Discount | $20,259 |
Stockholders_Equity_Details
Stockholders' Equity (Details) (USD $) | 6 Months Ended | |
Feb. 28, 2014 | Aug. 31, 2013 | |
Stockholders Equity Note [Line Items] | ' | ' |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred stock, par value per share | $0.00 | $0.00 |
Preferred Stock, Shares Issued | ' | ' |
Preferred Stock, Shares Outstanding | ' | ' |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common stock, par value per share | $0.00 | $0.00 |
Common stock, shares outstanding | 20,989,939 | 20,989,939 |
Common stock, shares issued | 20,989,939 | 20,989,939 |
Amount Converted | $317,780 | ' |
Debt conversion, shares issued | 5,755,600 | ' |
October 1, 2013 [Member] | ' | ' |
Stockholders Equity Note [Line Items] | ' | ' |
Amount Converted | 30,000 | ' |
Debt conversion, shares issued | 600,000 | ' |
October 4, 2013 [Member] | ' | ' |
Stockholders Equity Note [Line Items] | ' | ' |
Amount Converted | 30,000 | ' |
Debt conversion, shares issued | 600,000 | ' |
October 8, 2013 [Member] | ' | ' |
Stockholders Equity Note [Line Items] | ' | ' |
Amount Converted | 60,000 | ' |
Debt conversion, shares issued | 600,000 | ' |
October 15, 2013 [Member] | ' | ' |
Stockholders Equity Note [Line Items] | ' | ' |
Amount Converted | 15,000 | ' |
Debt conversion, shares issued | 300,000 | ' |
December 2, 2013 [Member] | ' | ' |
Stockholders Equity Note [Line Items] | ' | ' |
Amount Converted | 80,000 | ' |
Debt conversion, shares issued | 1,600,000 | ' |
January 20, 2014 [Member] | ' | ' |
Stockholders Equity Note [Line Items] | ' | ' |
Amount Converted | 40,000 | ' |
Debt conversion, shares issued | 800,000 | ' |
January 29, 2014 [Member] | ' | ' |
Stockholders Equity Note [Line Items] | ' | ' |
Amount Converted | 40,000 | ' |
Debt conversion, shares issued | 800,000 | ' |
February 11, 2014 [Member] | ' | ' |
Stockholders Equity Note [Line Items] | ' | ' |
Amount Converted | 22,780 | ' |
Debt conversion, shares issued | 455,600 | ' |
Convertible Promissory Note dated August 31, 2011 [Member] | ' | ' |
Stockholders Equity Note [Line Items] | ' | ' |
Amount Converted | 75,000 | ' |
Debt conversion, shares issued | 1,500,000 | ' |
Convertible Promissory Note dated August 31, 2011 [Member] | October 1, 2013 [Member] | ' | ' |
Stockholders Equity Note [Line Items] | ' | ' |
Amount Converted | 30,000 | ' |
Debt conversion, shares issued | 600,000 | ' |
Convertible Promissory Note dated August 31, 2011 [Member] | October 4, 2013 [Member] | ' | ' |
Stockholders Equity Note [Line Items] | ' | ' |
Amount Converted | 30,000 | ' |
Debt conversion, shares issued | 600,000 | ' |
Convertible Promissory Note dated August 31, 2011 [Member] | October 15, 2013 [Member] | ' | ' |
Stockholders Equity Note [Line Items] | ' | ' |
Amount Converted | $15,000 | ' |
Debt conversion, shares issued | 300,000 | ' |
Subsequent_Events_Schedule_of_
Subsequent Events (Schedule of Convertible Notes Payable Having Been Converted) (Details) (USD $) | 6 Months Ended |
Feb. 28, 2014 | |
Subsequent Event [Line Items] | ' |
Amount Converted | $317,780 |
Number of Shares Issued | 5,755,600 |
Convertible Promissory Note dated May 31, 2013 [Member] | ' |
Subsequent Event [Line Items] | ' |
Amount Converted | 182,780 |
Number of Shares Issued | 3,655,600 |
Unamortized Discount | 160,455 |
Debt conversion, price per share | $0.05 |
Convertible Promissory Note dated August 31, 2013 [Member] | ' |
Subsequent Event [Line Items] | ' |
Debt conversion, price per share | $0.05 |
Convertible Promissory Note dated August 31, 2013 [Member] | Subsequent Event [Member] | ' |
Subsequent Event [Line Items] | ' |
Amount Converted | 100,000 |
Number of Shares Issued | 2,000,000 |
Unamortized Discount | 77,221 |
Convertible Promissory Note dated August 31, 2013 [Member] | March 14, 2014 [Member] | Subsequent Event [Member] | ' |
Subsequent Event [Line Items] | ' |
Amount Converted | 50,000 |
Number of Shares Issued | 1,000,000 |
Unamortized Discount | 30,864 |
Convertible Promissory Note dated August 31, 2013 [Member] | March 21, 2014 [Member] | Subsequent Event [Member] | ' |
Subsequent Event [Line Items] | ' |
Amount Converted | 50,000 |
Number of Shares Issued | 1,000,000 |
Unamortized Discount | $46,357 |