Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
31-May-14 | Jul. 21, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'OBJ Enterprises, Inc. | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--08-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 75,313,465 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001489256 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Period End Date | 31-May-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
CONSOLIDATED_BALANCE_SHEET_Una
CONSOLIDATED BALANCE SHEET (Unaudited) (USD $) | 31-May-14 | Aug. 31, 2013 |
CURRENT ASSETS | ' | ' |
Cash and cash equivalents | $151,454 | $75,190 |
Accounts receivable | 357 | 0 |
Total current assets | 151,811 | 75,190 |
Investments in joint ventures- controlled by affiliate | 497,928 | 0 |
TOTAL ASSETS | 649,739 | 75,190 |
CURRENT LIABILITIES | ' | ' |
Accounts payable and accrued liabilities | 246,940 | 92,381 |
Current portion of convertible notes payable, net of discount of $0 and $306, respectively | 4,904 | 76,310 |
Current portion of convertible notes payable, net of discount of $54,573 and $0, respectively – due to related party | 96,319 | 0 |
Total current liabilities | 348,163 | 168,691 |
Convertible notes payable, net of discount of $281,982 and $521,630, respectively. | 26,194 | 41,643 |
Convertible notes payable, net of discount of $0 and $0, respectively –due to related party | 500,288 | 0 |
TOTAL LIABILITIES | 874,645 | 210,334 |
STOCKHOLDERS’ DEFICIT | ' | ' |
Common Stock, $0.0001 par value; 100,000,000 shares authorized; 24,989,939 and 15,234,339 shares issued and outstanding at May 31, 2014 and August 31, 2013, respectively. | 2,499 | 1,523 |
Additional paid-in capital | 3,633,514 | 2,898,220 |
Accumulated deficit | -3,860,919 | -3,034,887 |
Total stockholders’ deficit | -224,906 | -135,144 |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | $649,739 | $75,190 |
CONSOLIDATED_BALANCE_SHEET_Una1
CONSOLIDATED BALANCE SHEET (Unaudited) (Parentheticals) (USD $) | 31-May-14 | Aug. 31, 2013 |
Common Stock, par value (in Dollars per share) | $0.00 | $0.00 |
Common Stock, shares authorized (in Shares) | 100,000,000 | 100,000,000 |
Common Stock, shares issued (in Shares) | 24,989,939 | 15,234,339 |
Common Stock, shares outstanding (in Shares) | 24,989,939 | 15,234,339 |
Chief Executive Officer [Member] | Convertible Notes Payable [Member] | ' | ' |
Convertible notes payable, discount | $54,573 | $0 |
Chief Executive Officer [Member] | Convertible Debt [Member] | ' | ' |
Convertible notes payable, discount | 0 | 0 |
Convertible Notes Payable [Member] | ' | ' |
Convertible notes payable, discount | 0 | 306 |
Convertible Debt [Member] | ' | ' |
Convertible notes payable, discount | $281,982 | $521,630 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | 56 Months Ended | ||
31-May-14 | 31-May-13 | 31-May-14 | 31-May-13 | 31-May-14 | |
REVENUE | ' | ' | ' | ' | ' |
Software Sales | $540 | $0 | $1,065 | $0 | $1,065 |
GROSS PROFIT | 540 | 0 | 1,065 | 0 | 1,065 |
OPERATING EXPENSES | ' | ' | ' | ' | ' |
General and administrative expenses | 89,916 | 113,513 | 362,494 | 317,205 | 2,519,655 |
Loss on acquisition of 20% of Novalon | 0 | 0 | 25,000 | 0 | 25,000 |
Net (income)/loss from minority owned entity | 2,072 | 0 | 2,072 | 0 | 2,072 |
Impairment of investment in joint venture | 0 | 0 | 0 | 0 | 191,500 |
LOSS FROM OPERATIONS | -91,448 | -113,513 | -388,501 | -317,205 | -2,737,162 |
OTHER INCOME (EXPENSE) | ' | ' | ' | ' | ' |
Interest expense | -198,604 | -58,222 | -437,531 | -257,930 | -1,123,757 |
NET LOSS | ($290,052) | ($171,735) | ($826,032) | ($575,135) | ($3,860,919) |
NET LOSS PER COMMON SHARE – Basic and fully diluted (in Dollars per share) | ($0.01) | ($0.02) | ($0.04) | ($0.09) | ' |
COMMON SHARES OUTSTANDING Basic and fully diluted (in Shares) | 22,975,652 | 9,185,108 | 19,798,662 | 6,057,652 | ' |
CONSOLIDATED_STATEMENT_OF_STOC
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Unaudited) (USD $) | Common Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Issuance of common stock for cash [Member] | Total |
Issuance of common stock for cash [Member] | Issuance of common stock for cash [Member] | ||||||
BALANCE at Sep. 21, 2009 | ' | $0 | ' | $0 | $0 | ' | $0 |
BALANCE (in Shares) at Sep. 21, 2009 | ' | 0 | ' | ' | ' | ' | ' |
Issuance of common stock for cash | 8 | 23 | 52,492 | 8,977 | ' | 52,500 | 9,000 |
Issuance of common stock for cash (in Shares) | 75,000 | 225,000 | ' | ' | ' | ' | ' |
Net loss for the period | ' | ' | ' | ' | -20,572 | ' | -20,572 |
BALANCE at Aug. 31, 2010 | ' | 31 | ' | 61,469 | -20,572 | ' | 40,928 |
BALANCE (in Shares) at Aug. 31, 2010 | ' | 300,000 | ' | ' | ' | ' | ' |
Issuance of common stock for services | ' | 3 | ' | 619,997 | ' | ' | 620,000 |
Issuance of common stock for services (in Shares) | ' | 37,500 | ' | ' | ' | ' | ' |
Net loss for the period | ' | ' | ' | ' | -1,267,017 | ' | -1,267,017 |
BALANCE at Aug. 31, 2011 | ' | 34 | ' | 681,466 | -1,287,589 | ' | -606,089 |
BALANCE (in Shares) at Aug. 31, 2011 | ' | 337,500 | ' | ' | ' | ' | ' |
Issuance of common stock for conversion of debt | ' | 25 | ' | 241,828 | ' | ' | 241,853 |
Issuance of common stock for conversion of debt (in Shares) | ' | 247,500 | ' | ' | ' | ' | ' |
Issuance of common stock for services | ' | 2 | ' | 314,998 | ' | ' | 315,000 |
Issuance of common stock for services (in Shares) | ' | 22,500 | ' | ' | ' | ' | ' |
Discount on convertible notes payable | ' | ' | ' | 436,913 | ' | ' | 436,913 |
Net loss for the period | ' | ' | ' | ' | -886,997 | ' | -886,997 |
BALANCE at Aug. 31, 2012 | ' | 61 | ' | 1,675,205 | -2,174,586 | ' | -499,320 |
BALANCE (in Shares) at Aug. 31, 2012 | ' | 607,500 | ' | ' | ' | ' | ' |
Shares issued for rounding due to stock split (in Shares) | ' | 539 | ' | ' | ' | ' | ' |
Issuance of common stock for conversion of debt | ' | 1,462 | ' | 478,398 | ' | ' | 479,860 |
Issuance of common stock for conversion of debt (in Shares) | ' | 14,626,300 | ' | ' | ' | ' | ' |
Discount on convertible notes payable | ' | ' | ' | 744,617 | ' | ' | 744,617 |
Net loss for the period | ' | ' | ' | ' | -860,301 | ' | -860,301 |
BALANCE at Aug. 31, 2013 | ' | 1,523 | ' | 2,898,220 | -3,034,887 | ' | -135,144 |
BALANCE (in Shares) at Aug. 31, 2013 | ' | 15,234,339 | ' | ' | ' | ' | 15,234,339 |
Issuance of common stock for conversion of debt | ' | 976 | ' | 516,804 | ' | ' | 517,780 |
Issuance of common stock for conversion of debt (in Shares) | ' | 9,755,600 | ' | ' | ' | ' | ' |
Discount on convertible notes payable | ' | ' | ' | 218,490 | ' | ' | 218,490 |
Net loss for the period | ' | ' | ' | ' | -826,032 | ' | -826,032 |
BALANCE at May. 31, 2014 | ' | $2,499 | ' | $3,633,514 | ($3,860,919) | ' | ($224,906) |
BALANCE (in Shares) at May. 31, 2014 | ' | 24,989,939 | ' | ' | ' | ' | 24,989,939 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 9 Months Ended | 56 Months Ended | |
31-May-14 | 31-May-13 | 31-May-14 | |
CASH FLOW FROM OPERATING ACTIVITIES: | ' | ' | ' |
Net Loss | ($826,032) | ($575,135) | ($3,860,919) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' |
Common stock issued for services | 0 | 0 | 935,000 |
Loss on acquisition of 20% of Novalon | 25,000 | 0 | 25,000 |
Loss from minority owned entity | 2,072 | 0 | 2,072 |
Amortization of discount on convertible note payable | 403,871 | 234,362 | 1,015,862 |
Changes in operating assets and liabilities: | ' | ' | ' |
Accounts receivable | -357 | 0 | -357 |
Accounts payable and accrued liabilities | 96,375 | 30,069 | 187,211 |
Accrued interest payable | 33,660 | 23,568 | 109,439 |
NET CASH USED IN OPERATING ACTIVITIES | -265,411 | -287,136 | -1,586,692 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' |
Cash paid to acquire 20% of Novalon | -25,000 | 0 | -25,000 |
Investment in joint venture bwith related party | -500,000 | 0 | -500,000 |
NET CASH USED IN INVESTING ACTIVITIES | -525,000 | 0 | -525,000 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' |
Proceeds from issuance of common stock | 0 | 0 | 61,500 |
Proceeds from advances | 216,675 | 361,110 | 1,551,646 |
Proceeds from convertible debt b from related party | 650,000 | 0 | 650,000 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 866,675 | 361,110 | 2,263,146 |
NET INCREASE (DECREASE) IN CASH | 76,264 | 73,974 | 151,454 |
CASH, at the beginning of the period | 75,190 | 2,652 | 0 |
CASH, at the end of the period | 151,454 | 76,626 | 151,454 |
Cash paid during the period for: | ' | ' | ' |
Interest | 0 | 0 | 0 |
Taxes | 0 | 0 | 0 |
Noncash investing and financing transaction: | ' | ' | ' |
Common stock issued for services | 0 | 0 | 935,000 |
Convertible note payable received | 650,000 | 0 | 650,000 |
Refinance of advances into convertible notes payable | 158,490 | 248,272 | 406,762 |
Beneficial conversion on convertible note payable | 218,490 | 248,272 | 466,762 |
Conversion of convertible notes payable. | $516,804 | $170,860 | $1,109,780 |
CONSOLIDATED_STATEMENTS_OF_CAS1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Parentheticals) | 9 Months Ended | 56 Months Ended | |
31-May-14 | 31-May-13 | 31-May-14 | |
Cash paid to acquire Novalon | 20.00% | 20.00% | 20.00% |
Note_1_General_Organization_an
Note 1. General Organization and Business | 9 Months Ended |
31-May-14 | |
Disclosure Text Block [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
Note 1. General Organization and Business | |
OBJ Enterprises, Inc. (the “Company”), a Florida corporation, was 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 pursues acquisition and internally develops property in the online and social media industry while exploring consumer gaming trends to develop games through joint venture agreements and partnerships. | |
On May 9, 2012 (revised on June 9, 2012), the Company engaged Street Source, LLC to act as an independent gaming developer for the Company through a joint venture agreement. The primary focus of this partnership is to develop online and social games leveraging emerging consumer gaming portals; such as smart phones and mobile devices. On May 21, 2013, the joint venture formed Novalon Technologies, LLC (“Novalon”) to act as the operating entity for the joint venture. OBJE owned 80% of Novalon and Street Source, LLC retained a 20% ownership stake. | |
On October 4, 2013, OBJE purchased Source Street’s interest in Novalon and Source Street’s rights to 20% of the game and resulting profits from the Revised Joint Venture Agreement. As of the date of this report, Novalon’s brand name and intellectual property under Novalon Games are a wholly owned subsidiary of the Company. OBJE paid a total of $25,000 to acquire this interest from Source Street, with $20,000 paid immediately and the remaining $5,000 paid upon the successful completion of the Creature Taverns game. This acquisition represented the acquisition of the remaining 20% of Novalon as OBJE owned 80% under the Revised Joint Venture Agreement. This was an acquisition of a company controlled by OBJE. No amounts were recognized on the balance sheet as a result of this acquisition as 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. The costs to acquire Novalon were expensed as a loss on the acquisition of 20% of Novalon. | |
On March 11, 2014, our wholly-owned subsidiary, Novalon Technologies LLC (“Novalon”), entered into a Software and Development and License Agreement (the “Development Agreement”) with Corv Studios LLC (“Corv”). | |
On March 5, 2014, Novalon entered into a Software License Agreement (the “License Agreement”) with Corv. Under the terms of the License Agreement, Novalon agreed to pay $10,000 for a non-exclusive license for the Pac-Ball application currently available on the Android platform (“Pac-Ball”) for a period of two years. In exchange, Novalon will have the right to sell the game and retain 50% of the revenue generated from those sales. | |
On May 21, 2014, OBJ Enterprises, Inc. (“OBJE” or the “Company”) entered into a Joint Venture Agreement (“Agreement”) with Great Outdoors, LLC (“GO”). Pursuant to the Agreement, the Company and GO created My Go Games LLC (“MGG”) to operate the joint venture. The purpose of the joint venture is to expand upon the Company’s and GO’s existing games – “GO Hunting: Shooting Sports” and “GO Hunting: Archery Edition” - and develop and commercialize new games. MGG is owned by GO (80%) and the Company (20%). The Agreement calls for the Company and GO to enter into a Member Control Agreement which permits the appointment of three governors, two to be appointed by GO and one to be appointed by the Company. | |
The Agreement grants the Company the right to acquire GO and MGG or their assets in exchange for an amount of shares of common stock equal to 80% of the post-issuance number of shares of the Company’s common stock. | |
During the period ended May 31, 2014 the Company made significant management changes. On May 27, 2014, the Company appointed Daniel J. Hammett as a director and Chairman of the Board of Directors. Also on May 27, 2014, Paul C. Watson resigned as Chairman of the Board. Mr. Watson will remain a Director and President of the Company. | |
The Company incorporated on September 21, 2009 (Date of Inception) with its corporate headquarters located in Sarasota, Florida. Its fiscal year-end is August 31. | |
Note_2_Going_Concern
Note 2. Going Concern | 9 Months Ended |
31-May-14 | |
Going Conern [Abstract] | ' |
Going Conern [Text Block] | ' |
Note 2. Going Concern | |
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As of May 31, 2014, the Company has generated net losses since inception of $3,860,919. For the nine months ended May 31, 2014, the company has a net loss of $826,032 and negative cash flow from operating activities of $265,411. As of May 31, 2014, the Company has negative working capital of $196,352. 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 potential 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 plans to address the Company’s financial situation as follows: | |
In the near term, management plans to seek investors or joint venture partners with the ability to assist the Company financially in its efforts to implement fully the Company’s business plan. Management continues to seek out financing to obtain the capital required to meet the Company’s financial obligations. There is no assurance an appropriate joint venture partner will agree to acceptable terms, investors will continue to invest in the Company or 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 needed to finance the Company’s future growth. However, there is no assurances the Company’s planned activities will be successful, and there is no assurance the Company will 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 achieve adequate profitability and cash flows from operations to sustain its operations. | |
Note_3_Summary_of_Significant_
Note 3. Summary of Significant Accounting Policies | 9 Months Ended | |
31-May-14 | ||
Accounting Policies [Abstract] | ' | |
Significant Accounting Policies [Text Block] | ' | |
Note 3. Summary of Significant Accounting Policies | ||
Interim Financial Statements | ||
These unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“US GAAP”) 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 nine month period ended May 31, 2014 are not necessarily indicative of the results to be expected for the full fiscal year ending August 31, 2014. | ||
Basis of Presentation | ||
The 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 US GAAP. 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 US GAAP. See Note 2 regarding the assumption that the Company is a “going concern”. | ||
Use of Estimates | ||
The preparation of financial statements in conformity with US 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 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 $151,454 and $75,190 at May 31, 2014 and August 31, 2013, respectively. | ||
Cash Flows Reporting | ||
The Company follows ASC 230, Statement of Cash Flows, for cash flows reporting, and 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 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 May 31, 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 | ||
We derive revenue from the sale of virtual goods to GO-gamers – individuals who play our online or mobile games - and from the sale of advertising within our online and mobile games to our brand-partners – companies who seek to have their products featured in online and mobile games. | ||
Online and Mobile Games | ||
Currently, we operate half of our games as live services that allow GO-Gamers to initially download the game and play a basic version of the game for free. Within these games, GO-Gamers can purchase virtual currency to obtain virtual goods to enhance their game-playing experience. Primarily, GO-Gamers pay for our virtual currency – GO Bucks – using payment methods such as credit cards or PayPal. The other half of our games are available for download for approximately $1. Revenue from payments for initial download is recognized as though the game is a durable good (discussed below). | ||
We recognize revenue when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the service has been provided to the GO-gamer; (3) the collection of our fees is reasonably assured; and (4) the amount of fees to be paid by the customer is fixed or determinable. For purposes of determining when the service has been provided to the GO-gamer, we have determined that an implied obligation exists to the paying GO-gamer to continue displaying the purchased virtual goods within the online game over their estimated life or until they are consumed. The proceeds from the sales of virtual goods are initially recorded in deferred revenue. We categorize our virtual goods as either consumable or durable. Consumable virtual goods, such as energy or ammo, represent goods that can be consumed by a specific GO-gamer action. Common characteristics of consumable goods may include virtual goods that are no longer displayed on the GO-gamer’s game board after a short period of time, do not provide the GO-gamer any continuing benefit following consumption or often times enable a GO-gamer to perform an in-game action immediately. For the sale of consumable virtual goods, we recognize revenue as the goods are consumed. Durable virtual goods, such as bows, rifles, or levels, represent virtual goods that are accessible to the GO-gamer over an extended period of time. We recognize revenue from the sale of durable virtual goods ratably over the estimated average playing period of paying GO-gamers for the applicable game, which represents our best estimate of the average life of our durable virtual goods. If we do not have the ability to differentiate revenue attributable to durable virtual goods from consumable virtual goods for a specific game, we recognize revenue from the sale of durable and consumable virtual goods for that game ratably over the estimated average period that paying GO-gamers typically play our games (as further discussed below), which are estimated to range from three to 24 months. Future paying GO-gamer usage patterns and behavior may differ from the historical usage patterns and therefore the estimated average playing periods may change in the future. | ||
Currently, we have limited data to determine the consumption dates for our consumable virtual goods or to differentiate revenue attributable to durable virtual goods from consumable virtual goods. As we continue to improve our data capture capabilities, we will secure the necessary data for substantially all of our games, thus allowing us to recognize revenue related to consumable goods upon consumption. We expect that in future periods there will be changes in the mix of durable and consumable virtual goods sold, reduced virtual good sales in existing games, changes in estimates in average paying GO-gamer life and/or changes in our ability to make such estimates. When such changes occur, and in particular if more of our revenue in any period is derived from goods for which revenue is recognized over the estimated average playing period, or that period increases on average, the amount of revenue that we recognize in a future period may be reduced, perhaps significantly. | ||
On a quarterly basis, we determine the estimated average playing period for paying GO-gamers by game beginning at the time of a GO-gamers’s first purchase in that game and ending on a date when that paying GO-gamer is no longer playing the game. To determine when paying GO-gamers are no longer playing a given game, we analyze monthly cohorts of paying GO-gamers for that game who made their first in-game payment between one and 12 months prior to the beginning of each quarter and determine whether each GO-gamer within the cohort is an active or inactive GO-gamer as of the date of our analysis. To determine which GO-gamers are inactive, we analyze the dates that each paying GO-gamer last logged into that game. We determine a paying GO-gamer to be inactive once they have reached a period of inactivity for which it is probable (defined as at least 80%) that a GO-gamer will not return to a specific game. For the payers deemed inactive as of our analysis date we analyze the dates they last logged into that game to determine the rate at which inactive GO-gamers stopped playing. Based on these dates we then project a date at which all paying GO-gamers for each monthly cohort are expected to cease playing our games. We then average the time periods from first purchase date and the date the last GO-gamer is expected to cease playing the game for each of the monthly cohorts to determine the total playing period for that game. To determine the estimated average playing period we then divide this total playing period by two. The use of this “average” approach assumes that paying GO-gamers become inactive at a relatively consistent rate for each of our games. If future data indicates paying GO-gamers do not become inactive at a relatively consistent rate, we will modify our calculations accordingly. If a new game is launched and only a limited period of paying GO-gamer data is available for our analysis, then we also consider other factors, such as the estimated average playing period for other recently launched games with similar characteristics, to determine the estimated average playing period. | ||
Advertising | ||
We have contractual relationships with our brand-partners for advertisements within our games. We recognize advertising revenue as advertisements are delivered to customers as long as evidence of the arrangement exists (executed contract), the price is fixed and determinable, and we have assessed collectability as reasonably assured. Certain branded virtual goods and sponsorships are deferred and recognized over the estimated average life of the branded virtual good or as the branded virtual good is consumed, similar to game revenue. All arrangements directly between us and brand-partners are recognized gross equal to the price paid to us by the end advertiser since we are the primary obligor, and we determine the price. | ||
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. | ||
Note_4_Accounts_Payable_and_Ad
Note 4. Accounts Payable and Advances | 9 Months Ended |
31-May-14 | |
Disclosure Text Block [Abstract] | ' |
Short-term Debt [Text Block] | ' |
Note 4. Accounts Payable and Advances | |
During the nine months ended May 31, 2014, the Company received net, non-interest bearing advances from certain third parties totaling $58,185. The total amount due under these advances as of May 31, 2014 and August 31, 2013 was $ 216,675 and $0, respectively. These advances are not collateralized and are due on demand. On February 28, 2014 $158,460 of the advances received were reclassified as a convertible note. | |
During the quarter ended May 31, 2014 the Company called a large sum on the accounts payable into question. The total accrued amount in question is approximately $182,000 owed to K.M. Delaney & Associates (“KMDA”), a former vendor that provided a turnkey back-office solution including accounting, legal, treasury and office management services to the company. In addition, KMDA and its lead attorney, Kathleen Delaney, acted as administrative agent to Vista View Ventures, Inc., Montego Blue Enterprises Corporation, Clearway Investments SA, and Outback Ventures AG (collectively, “Convertible Debt Counterparties”). The Convertible Debt counterparties were companies that either (a) advanced funds to the Company, (b) held certain convertible debentures originated by the Company, or (c) purchased portions of convertible debentures issued by the Company to one of the other Convertible Debt Counterparties. On May 6, 2014, the Company terminated its relationship with KMDA and Kathleen M. Delaney, and terminated any informal or formal funding agreements with any and all of the Convertible Debt Counterparties. While the Company terminated all funding agreements with the Convertible Debt Counterparties, the Company is contractually obligated to adhere to the terms of its outstanding convertible debentures and will continue to do so. In addition to terminating the aforementioned relationships, the Company began an internal review of the invoices generated, processed, and incorporated into the Company’s financial statements by KMDA that were payable to KMDA. The Company has requested all relevant documentation from KMDA evidencing the validity of the accrued accounts payable, including, but not limited to, the contract governing such services, terms of payment, and invoices signed by a duly authorized officer of the Company. Currently, Company legal counsel is communicating with KMDA to complete the internal review and achieve a resolution. The Company is confident its internal review will prove fruitful; however, to be conservative, the full amount remains fully accrued on the balance sheet. | |
Note_5_Convertible_Notes_Payab
Note 5. Convertible Notes Payable | 9 Months Ended | ||||||||||||
31-May-14 | |||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||
Long-term Debt [Text Block] | ' | ||||||||||||
Note 5. Convertible Notes Payable | |||||||||||||
Convertible notes payable consist of the following as of May 31, 2014 and August 31, 2013: | |||||||||||||
31-May-14 | 31-Aug-13 | ||||||||||||
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 | 145,254.00 | 323,895 | |||||||||||
Convertible note payable, dated February 28, 2014, bearing interest at 10% per annum, matures on February 29, 2016 and convertible into shares of common stock at $0.05 | 158,490 | — | |||||||||||
Accrued interest payable | 9,093 | 73,664 | |||||||||||
Total convertible notes payable and accrued interest | 313,080 | 639,889 | |||||||||||
Less: current portion of convertible notes payable and accrued interest | (4,904 | ) | (76,617 | ) | |||||||||
Less: discount on noncurrent convertible notes payable | (281,982 | ) | (521,630 | ) | |||||||||
Noncurrent convertible notes payable, net of discount | $ | 26,194 | $ | 41,642 | |||||||||
Convertible notes payable due to a related party consist of the following as of May 31, 2014 and August 31, 2013: | |||||||||||||
31-May-14 | 31-Aug-13 | ||||||||||||
Convertible note payable, dated April 30, 2014, bearing interest at 7% per annum, matures on April 30, 2016 and convertible into shares of common stock at $0.05 | 150,000 | — | |||||||||||
Convertible note payable, dated May 27, 2014, bearing interest at 7% per annum, matures on May 30, 2016 and convertible into shares of common stock at $0.05 | 500,000 | — | |||||||||||
Accrued interest payable | 1,180 | — | |||||||||||
Total convertible notes payable and accrued interest | 651,180 | — | |||||||||||
Less: current portion of convertible notes payable and accrued interest | (150,892 | ) | — | ||||||||||
Less: discount on noncurrent convertible notes payable | — | ||||||||||||
Noncurrent convertible notes payable, net of discount | $ | 500,288 | $ | — | |||||||||
The Company accrued interest in the amount of $33,660 during the nine months ended May 31, 2014. This amount was unpaid as of May 31, 2014 and is included in convertible notes payable as of that date. During the same period, the Company amortized $403,871 of the discount on convertible notes payable to interest expense. | |||||||||||||
During the nine months ended May 31, 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 $0.04 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 Convertible Notes Payable 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 nine months ended May 31, 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 Convertible Notes Payable 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 nine months ended May 31, 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 | ||||||||
During the nine months ended May 31, 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 | $ | 30,865 | ||||||||
21-Mar-14 | 50,000 | 1,000,000 | 46,357 | ||||||||||
14-Apr-14 | 50,000 | 1,000,000 | 45,389 | ||||||||||
20-May-14 | 50,000 | 1,000,000 | 44,674 | ||||||||||
Total | $ | 200,000 | 4,000,000 | $ | 167,285 | ||||||||
Note_6_Stockholders_Equity
Note 6. Stockholders' Equity | 9 Months Ended | ||||||||
31-May-14 | |||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | ||||||||
Note 6. Stockholders’ Equity | |||||||||
Common Stock | |||||||||
The Company has authorized 100,000,000 shares of $0.0001 par value common stock. There were 24,989,939 and 15,234,339 shares of common stock outstanding as of May 31, 2014 and August 31, 2013, respectively. | |||||||||
During the nine months ended May 31, 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 | |||||||
14-Mar-14 | 50,000 | 1,000,000 | |||||||
21-Mar-14 | 50,000 | 1,000,000 | |||||||
14-Apr-14 | 50,000 | 1,000,000 | |||||||
20-May-14 | 50,000 | 1,000,000 | |||||||
Total | $ | 517,780 | 9,755,600 | ||||||
On May 21, 2014, the Company entered into a Joint Venture Agreement (“GO JV Agreement”) with Great Outdoors, LLC (“GO”). Pursuant to the GO JV Agreement, the Company and GO created My Go Games LLC (“MGG”) to operate the joint venture. The purpose of the joint venture is to expand upon the Company’s and GO’s existing games and develop and commercialize new games. MGG is owned by GO (80%) and the Company (20%). The GO JV Agreement calls for the Company and GO to enter into a member control agreement which permits the appointment of three governors of MGG, two to be appointed by GO and one to be appointed by the Company. | |||||||||
On April 30, 2014 the Company entered into a convertible note with GO for $150,000. On May 27, 2014 the Company entered into a convertible note with GO for $500,000. The Company then made an initial investment in MGG with this cash. Per the Master Services Agreement MGG must pay all operating expenses for the Company. | |||||||||
Below is a simple balance sheet for MGG for the period ended May 31, 2014. The company recorded 20% of the loss on this minority investment which totaled $2,072. | |||||||||
My Go Games, LLC | |||||||||
Balance Sheet | |||||||||
As of May 31, 2014 | |||||||||
Total | |||||||||
ASSETS | |||||||||
Cash | 498,946.47 | ||||||||
Total Assets | $ | 498,946.47 | |||||||
LIABILITIES AND EQUITY | |||||||||
Accounts Payable (A/P) | 10,558.69 | ||||||||
Total Current Liabilities | $ | 10,558.69 | |||||||
Long-Term Liabilities | |||||||||
Convertible Loan Payable | 500,000.00 | ||||||||
Total Long-Term Liabilities | $ | 500,000.00 | |||||||
Total Liabilities | $ | 510,558.69 | |||||||
Equity | |||||||||
Member Capital | |||||||||
GO, LLC Equity | 500 | ||||||||
Total Member Capital | $ | 500 | |||||||
Retained Earnings | |||||||||
Net Income | -12,112.22 | ||||||||
Total Equity | $ | -11,612.22 | |||||||
TOTAL LIABILITIES AND EQUITY | $ | 498,946.47 | |||||||
Note_7_Related_Parties
Note 7. Related Parties | 9 Months Ended |
31-May-14 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions Disclosure [Text Block] | ' |
Note 7. Related Parties | |
During the period ended May 31, 2014 the Company entered into multiple transactions with GO that have resulted in the two entities becoming related parties. In April and May 2014, the Company entered into two convertible notes payable with GO totaling $650,000. In May 2014, the Company and GO created MGG a joint venture company to continue developing and selling games. The Company owns 20% of the JV company MGG while GO owns the remaining 80% (see Notes 6 and 9). | |
Note_8_Subsequent_Events
Note 8. Subsequent Events | 9 Months Ended |
31-May-14 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
Note 8. Subsequent Events | |
On June 19, 2014, the Company entered into a share exchange agreement (the “Share Exchange Agreement”) with Great Outdoors, LLC, a Delaware limited liability company (“GO”) and My GO Games, LLC, a Minnesota limited liability company (“MGG”), pursuant to which the Company issued 50,323,526 shares of its common stock (the “Exchange Shares”) for all of the issued and outstanding membership interests of MGG held by GO (the “Share Exchange”). Prior to the Share Exchange MGG was owned 20% by the Company and 80% by GO. | |
GO is owned 100% by Daniel Hammett, a director of the Company, and following the closing of the Share Exchange, the Company’s Chief Executive Officer. | |
Following the closing of the Share Exchange on June 19, 2014, MGG became a wholly-owned subsidiary of the Company and GO acquired 66.82% of the Company’s issued and outstanding shares of common stock. The Share Exchange requires the Company to amend its articles of incorporation to (i) increase the total number of shares of common stock that the Company has authority to issue to 250,000,000 shares of common stock, par value $0.0001 (the “Authorized Share Increase”); (ii) change the name of the Company from “OBJ Enterprises, Inc.” to “MyGo Games Holding Co.” (the “Name Change”); and (iii) stagger positions on the Company’s Board of Directors into three classes, with the term of office of two director positions to expire at the annual meeting of shareholders next ensuing; another two director positions to expire one year after the annual meeting next ensuing; and another three director positions to expire two years after the annual meeting next ensuing (the “Staggered Board Approval”). | |
In connection with the Staggered Board Approval, any director appointed to fill a vacancy on the board by reason of death, resignation, removal from office, refusal to stand for re-election or otherwise shall be appointed for the remainder of the term of the class of the director they are appointed to replace. In the absence of a nomination for a successor at the end of a director’s term, the term of the then current director shall simply be extended for another full three-year term without further action being required. Not more than one class of directors, being the class up for election at that year’s annual meeting, shall be subject to replacement by the shareholders during any single year. Any increase or decrease in the number of directors pursuant to the Company’s Articles of Incorporation or Bylaws shall be apportioned by resolution of the Company’s Board of Directors to be so apportioned among the director classes as to make all classes as nearly equal in number as possible. In no case will a decrease in the number of directors shorten the term of any incumbent director. | |
The Share Exchange also required the Company to amend its Bylaws to permit the Company’s Board of Directors to be not fewer than one nor more than ten directors and to consist of seven directors initially (the “Board Increase” and, collectively with the Authorized Share Increase, the Name Change and the Staggered Board Approval, the “Amendments”). The officers of the Company are authorized, each individually, to take any such actions that each deems appropriate, necessary or advisable to effect the above Amendments. | |
The Company’s Board of Directors recommended that its shareholders approve the Amendments and on June 23, 2014, GO, as the majority shareholder of the Company, executed a shareholder consent approving the Amendments. | |
In connection with the Share Exchange, the Company, GO and MGG entered into amended option agreements (the “Option Amendments”) with each of Daniel Hammett, Daniel Miller, and Paul Watson and certain employees of MGG that amended option agreements that MGG previously had entered into with each such persons. Pursuant to each Option Amendment, in consideration for each such person’s continued employment at MGG, such person, the Company and MGG agreed that options to purchase membership interests of MGG were replaced with options to purchase shares of the Company’s shares of common stock at $0.05 per share (the “Company Options”). Under these Company Options such persons have the right to acquire up to 82,660,000 shares of common stock of the Company. None of the Company Options may be exercised until the Authorized Share Increase has become effective. The Company Options were issued pursuant to Section 4(a)(2) of the Securities Act based on representations of the holders of such options. | |
Following the Share Exchange with MGG and GO, on June 19, 2014, there were 75,313,465 shares of the Company’s common stock issued and outstanding and GO holds 66.82% of the issued and outstanding shares of Common Stock. Further, pursuant to previously issued convertible notes of the Company, GO has the right to acquire an additional 13,000,000 shares of common stock in the Company. If GO converted such convertible notes, GO would hold 71.70% of the Company’s issued and outstanding shares of common stock on an a partially-diluted basis. Finally, Daniel Hammett, who is the controlling principal of GO, was also granted Company Options to purchase up to 30,000,000 shares of common stock of the Company. If Mr. Hammett exercised such options, pursuant to his control of the shares of common stock held or acquirable by GO, Mr. Hammett would control 78.88% of the Company’s issued and outstanding shares of common stock on a partially-diluted basis. | |
On June 19, 2014, in connection with the Share Exchange, Paul Watson, the Company’s Chief Executive Officer and Secretary prior to consummation of the Share Exchange, resigned as Chief Executive Officer and Secretary of the Company. Mr. Watson continues as the Company’s Chief Strategy Officer, President, Chief Financial Officer and Treasurer. In connection with the Share Exchange, on June 19, 2014, the Company’s Board of Directors appointed Daniel Hammett as Chief Executive Officer and Daniel Miller as Chief Operating Officer and Secretary. Daniel Hammett is an equity owner of GO, Daniel Miller is the Chief Operating Officer of MGG. Each of Mr. Hammett, Mr. Miller and Mr. Watson is a director of the Company and was a director at the time that the Company’s Board of Directors approved the Share Exchange. | |
On June 19, 2014, the Board recommended amendments to the Company Articles of Incorporation to effect the Authorized Share Increase, the Name Change and the Staggered Board Approval and the Board also recommended an amendment to the Company’s Bylaws to effect the Board Increase. On June 23, 2014, stockholders of the Company approved the Amendments by written consent. In connection with the approval of the Amendments by written consent, the Company has filed a definitive Schedule 14C with the Commission on July 2, 2014, which more fully describes the Amendments. The Amendments will not go effective until twenty days after the mailing of a definitive Schedule 14C to the stockholders and approval of the Amendments by the Financial Industry Regulatory Authority. | |
On June 19, 2014, the Board of Directors of the Company amended the Company’s Bylaws to add certain officer positions to the Company and clarify the roles and duties of previously appointed officer positions of the Company. | |
Additional information about the Share Exchange is available on the Company’s report on Form 8-K, filed with the SEC on June 25, 2014. | |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 9 Months Ended | |
31-May-14 | ||
Accounting Policies [Abstract] | ' | |
Interim Financial Statements, Policy [Policy Text Block] | ' | |
Interim Financial Statements | ||
These unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“US GAAP”) 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 nine month period ended May 31, 2014 are not necessarily indicative of the results to be expected for the full fiscal year ending August 31, 2014. | ||
Basis of Accounting, Policy [Policy Text Block] | ' | |
Basis of Presentation | ||
The 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 US GAAP. See Note 2 regarding the assumption that the Company is a going concern. | ||
Development Stage Entity, Policy [Policy Text Block] | ' | |
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. | ||
Consolidation, Policy [Policy Text Block] | ' | |
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 US GAAP. See Note 2 regarding the assumption that the Company is a “going concern”. | ||
Use of Estimates, Policy [Policy Text Block] | ' | |
Use of Estimates | ||
The preparation of financial statements in conformity with US 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 revenue and expenses during the reporting period. Actual results could differ from those estimates. | ||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | |
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 $151,454 and $75,190 at May 31, 2014 and August 31, 2013, respectively. | ||
Cash Flow Reporting, Policy [Policy Text Block] | ' | |
Cash Flows Reporting | ||
The Company follows ASC 230, Statement of Cash Flows, for cash flows reporting, and 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 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. | ||
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' | |
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 May 31, 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 Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | |
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, Policy [Policy Text Block] | ' | |
Revenue Recognition | ||
We derive revenue from the sale of virtual goods to GO-gamers – individuals who play our online or mobile games - and from the sale of advertising within our online and mobile games to our brand-partners – companies who seek to have their products featured in online and mobile games. | ||
Online and Mobile Games | ||
Currently, we operate half of our games as live services that allow GO-Gamers to initially download the game and play a basic version of the game for free. Within these games, GO-Gamers can purchase virtual currency to obtain virtual goods to enhance their game-playing experience. Primarily, GO-Gamers pay for our virtual currency – GO Bucks – using payment methods such as credit cards or PayPal. The other half of our games are available for download for approximately $1. Revenue from payments for initial download is recognized as though the game is a durable good (discussed below). | ||
We recognize revenue when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the service has been provided to the GO-gamer; (3) the collection of our fees is reasonably assured; and (4) the amount of fees to be paid by the customer is fixed or determinable. For purposes of determining when the service has been provided to the GO-gamer, we have determined that an implied obligation exists to the paying GO-gamer to continue displaying the purchased virtual goods within the online game over their estimated life or until they are consumed. The proceeds from the sales of virtual goods are initially recorded in deferred revenue. We categorize our virtual goods as either consumable or durable. Consumable virtual goods, such as energy or ammo, represent goods that can be consumed by a specific GO-gamer action. Common characteristics of consumable goods may include virtual goods that are no longer displayed on the GO-gamer’s game board after a short period of time, do not provide the GO-gamer any continuing benefit following consumption or often times enable a GO-gamer to perform an in-game action immediately. For the sale of consumable virtual goods, we recognize revenue as the goods are consumed. Durable virtual goods, such as bows, rifles, or levels, represent virtual goods that are accessible to the GO-gamer over an extended period of time. We recognize revenue from the sale of durable virtual goods ratably over the estimated average playing period of paying GO-gamers for the applicable game, which represents our best estimate of the average life of our durable virtual goods. If we do not have the ability to differentiate revenue attributable to durable virtual goods from consumable virtual goods for a specific game, we recognize revenue from the sale of durable and consumable virtual goods for that game ratably over the estimated average period that paying GO-gamers typically play our games (as further discussed below), which are estimated to range from three to 24 months. Future paying GO-gamer usage patterns and behavior may differ from the historical usage patterns and therefore the estimated average playing periods may change in the future. | ||
Currently, we have limited data to determine the consumption dates for our consumable virtual goods or to differentiate revenue attributable to durable virtual goods from consumable virtual goods. As we continue to improve our data capture capabilities, we will secure the necessary data for substantially all of our games, thus allowing us to recognize revenue related to consumable goods upon consumption. We expect that in future periods there will be changes in the mix of durable and consumable virtual goods sold, reduced virtual good sales in existing games, changes in estimates in average paying GO-gamer life and/or changes in our ability to make such estimates. When such changes occur, and in particular if more of our revenue in any period is derived from goods for which revenue is recognized over the estimated average playing period, or that period increases on average, the amount of revenue that we recognize in a future period may be reduced, perhaps significantly. | ||
On a quarterly basis, we determine the estimated average playing period for paying GO-gamers by game beginning at the time of a GO-gamers’s first purchase in that game and ending on a date when that paying GO-gamer is no longer playing the game. To determine when paying GO-gamers are no longer playing a given game, we analyze monthly cohorts of paying GO-gamers for that game who made their first in-game payment between one and 12 months prior to the beginning of each quarter and determine whether each GO-gamer within the cohort is an active or inactive GO-gamer as of the date of our analysis. To determine which GO-gamers are inactive, we analyze the dates that each paying GO-gamer last logged into that game. We determine a paying GO-gamer to be inactive once they have reached a period of inactivity for which it is probable (defined as at least 80%) that a GO-gamer will not return to a specific game. For the payers deemed inactive as of our analysis date we analyze the dates they last logged into that game to determine the rate at which inactive GO-gamers stopped playing. Based on these dates we then project a date at which all paying GO-gamers for each monthly cohort are expected to cease playing our games. We then average the time periods from first purchase date and the date the last GO-gamer is expected to cease playing the game for each of the monthly cohorts to determine the total playing period for that game. To determine the estimated average playing period we then divide this total playing period by two. The use of this “average” approach assumes that paying GO-gamers become inactive at a relatively consistent rate for each of our games. If future data indicates paying GO-gamers do not become inactive at a relatively consistent rate, we will modify our calculations accordingly. If a new game is launched and only a limited period of paying GO-gamer data is available for our analysis, then we also consider other factors, such as the estimated average playing period for other recently launched games with similar characteristics, to determine the estimated average playing period. | ||
Advertising Costs, Policy [Policy Text Block] | ' | |
Advertising | ||
We have contractual relationships with our brand-partners for advertisements within our games. We recognize advertising revenue as advertisements are delivered to customers as long as evidence of the arrangement exists (executed contract), the price is fixed and determinable, and we have assessed collectability as reasonably assured. Certain branded virtual goods and sponsorships are deferred and recognized over the estimated average life of the branded virtual good or as the branded virtual good is consumed, similar to game revenue. All arrangements directly between us and brand-partners are recognized gross equal to the price paid to us by the end advertiser since we are the primary obligor, and we determine the price. | ||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | |
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. |
Note_5_Convertible_Notes_Payab1
Note 5. Convertible Notes Payable (Tables) | 9 Months Ended | ||||||||||||
31-May-14 | |||||||||||||
Note 5. Convertible Notes Payable (Tables) [Line Items] | ' | ||||||||||||
Convertible Debt [Table Text Block] | 'Convertible notes payable consist of the following as of May 31, 2014 and August 31, 2013: | ||||||||||||
31-May-14 | 31-Aug-13 | ||||||||||||
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 | 145,254.00 | 323,895 | |||||||||||
Convertible note payable, dated February 28, 2014, bearing interest at 10% per annum, matures on February 29, 2016 and convertible into shares of common stock at $0.05 | 158,490 | — | |||||||||||
Accrued interest payable | 9,093 | 73,664 | |||||||||||
Total convertible notes payable and accrued interest | 313,080 | 639,889 | |||||||||||
Less: current portion of convertible notes payable and accrued interest | (4,904 | ) | (76,617 | ) | |||||||||
Less: discount on noncurrent convertible notes payable | (281,982 | ) | (521,630 | ) | |||||||||
Noncurrent convertible notes payable, net of discount | $ | 26,194 | $ | 41,642 | |||||||||
Chief Executive Officer [Member] | ' | ||||||||||||
Note 5. Convertible Notes Payable (Tables) [Line Items] | ' | ||||||||||||
Convertible Debt [Table Text Block] | 'Convertible notes payable due to a related party consist of the following as of May 31, 2014 and August 31, 2013: | ||||||||||||
31-May-14 | 31-Aug-13 | ||||||||||||
Convertible note payable, dated April 30, 2014, bearing interest at 7% per annum, matures on April 30, 2016 and convertible into shares of common stock at $0.05 | 150,000 | — | |||||||||||
Convertible note payable, dated May 27, 2014, bearing interest at 7% per annum, matures on May 30, 2016 and convertible into shares of common stock at $0.05 | 500,000 | — | |||||||||||
Accrued interest payable | 1,180 | — | |||||||||||
Total convertible notes payable and accrued interest | 651,180 | — | |||||||||||
Less: current portion of convertible notes payable and accrued interest | (150,892 | ) | — | ||||||||||
Less: discount on noncurrent convertible notes payable | — | ||||||||||||
Noncurrent convertible notes payable, net of discount | $ | 500,288 | $ | — | |||||||||
Convertible Note Payable, August 31, 2011 [Member] | ' | ||||||||||||
Note 5. Convertible Notes Payable (Tables) [Line Items] | ' | ||||||||||||
Schedule of Debt Conversions [Table Text Block] | 'During the nine months ended May 31, 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 $0.04 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 Convertible Notes Payable 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 | $ | — | ||||||||
Convertible Note Payable, January 31, 2013 [Member] | ' | ||||||||||||
Note 5. Convertible Notes Payable (Tables) [Line Items] | ' | ||||||||||||
Schedule of Debt Conversions [Table Text Block] | 'During the nine months ended May 31, 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 | ||||||||||
8-Oct-13 | $ | 60,000 | 600,000 | $ | 21,805 | ||||||||
Total | $ | 60,000 | 600,000 | $ | 21,805 | ||||||||
Convertible Note Payable, May 31, 2013 [Member] | ' | ||||||||||||
Note 5. Convertible Notes Payable (Tables) [Line Items] | ' | ||||||||||||
Schedule of Debt Conversions [Table Text Block] | 'During the nine months ended May 31, 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 | ||||||||
Convertible Note Payable, August 31, 2013 [Member] | ' | ||||||||||||
Note 5. Convertible Notes Payable (Tables) [Line Items] | ' | ||||||||||||
Schedule of Debt Conversions [Table Text Block] | 'During the nine months ended May 31, 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 | $ | 30,865 | ||||||||
21-Mar-14 | 50,000 | 1,000,000 | 46,357 | ||||||||||
14-Apr-14 | 50,000 | 1,000,000 | 45,389 | ||||||||||
20-May-14 | 50,000 | 1,000,000 | 44,674 | ||||||||||
Total | $ | 200,000 | 4,000,000 | $ | 167,285 |
Note_6_Stockholders_Equity_Tab
Note 6. Stockholders' Equity (Tables) | 9 Months Ended | ||||||||
31-May-14 | |||||||||
Convertible Debt [Member] | ' | ||||||||
Note 6. Stockholders' Equity (Tables) [Line Items] | ' | ||||||||
Schedule of Debt Conversions [Table Text Block] | 'During the nine months ended May 31, 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 | |||||||
14-Mar-14 | 50,000 | 1,000,000 | |||||||
21-Mar-14 | 50,000 | 1,000,000 | |||||||
14-Apr-14 | 50,000 | 1,000,000 | |||||||
20-May-14 | 50,000 | 1,000,000 | |||||||
Total | $ | 517,780 | 9,755,600 | ||||||
Corporate Joint Venture [Member] | ' | ||||||||
Note 6. Stockholders' Equity (Tables) [Line Items] | ' | ||||||||
Condensed Balance Sheet [Table Text Block] | 'Below is a simple balance sheet for MGG for the period ended May 31, 2014. The company recorded 20% of the loss on this minority investment which totaled $2,072. | ||||||||
My Go Games, LLC | |||||||||
Balance Sheet | |||||||||
As of May 31, 2014 | |||||||||
Total | |||||||||
ASSETS | |||||||||
Cash | 498,946.47 | ||||||||
Total Assets | $ | 498,946.47 | |||||||
LIABILITIES AND EQUITY | |||||||||
Accounts Payable (A/P) | 10,558.69 | ||||||||
Total Current Liabilities | $ | 10,558.69 | |||||||
Long-Term Liabilities | |||||||||
Convertible Loan Payable | 500,000.00 | ||||||||
Total Long-Term Liabilities | $ | 500,000.00 | |||||||
Total Liabilities | $ | 510,558.69 | |||||||
Equity | |||||||||
Member Capital | |||||||||
GO, LLC Equity | 500 | ||||||||
Total Member Capital | $ | 500 | |||||||
Retained Earnings | |||||||||
Net Income | -12,112.22 | ||||||||
Total Equity | $ | -11,612.22 | |||||||
TOTAL LIABILITIES AND EQUITY | $ | 498,946.47 |
Note_1_General_Organization_an1
Note 1. General Organization and Business (Details) (USD $) | 0 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | |||||||
Oct. 04, 2013 | 9-May-12 | 21-May-14 | 21-May-14 | Oct. 04, 2013 | Oct. 04, 2013 | 21-May-14 | 21-May-14 | 21-May-14 | 21-May-14 | 21-May-14 | Mar. 05, 2014 | |
Payment Upon Successful Completion of Creature Taverns Game [Member] | Street Source, LLC [Member] | Street Source, LLC [Member] | Novalon Technologies, LLC [Member] | Novalon Technologies, LLC [Member] | Novalon Technologies, LLC [Member] | My Go Games LLC ("MGG") Joint Venture [Member] | My Go Games LLC ("MGG") Joint Venture [Member] | My Go Games LLC ("MGG") Joint Venture [Member] | My Go Games LLC ("MGG") Joint Venture [Member] | My Go Games LLC ("MGG") Joint Venture [Member] | Licensing Agreements [Member] | |
Novalon Technologies, LLC [Member] | Street Source, LLC [Member] | Great Outdoors, LLC ("GO") [Member] | Great Outdoors, LLC ("GO") [Member] | Corporate Joint Venture [Member] | ||||||||
Note 1. General Organization and Business (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Additional Information | ' | 'The primary focus of this partnership is to develop online and social games leveraging emerging consumer gaming portals; such as smart phones and mobile devices. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Parent | ' | ' | 80.00% | ' | ' | ' | ' | 80.00% | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | 20.00% | ' |
Equity Method Investment, Aggregate Cost (in Dollars) | ' | ' | ' | ' | ' | $25,000 | ' | ' | ' | ' | ' | ' |
Payments to Acquire Equity Method Investments (in Dollars) | 5,000 | ' | ' | ' | 20,000 | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Intangible Assets (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10,000 |
Finite-Lived Intangible Assets, Remaining Amortization Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years |
License Agreement, Sales, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% |
Number of Governors Appointed | ' | ' | ' | ' | ' | ' | 2 | ' | 1 | 3 | ' | ' |
Note_2_Going_Concern_Details
Note 2. Going Concern (Details) (USD $) | 3 Months Ended | 9 Months Ended | 56 Months Ended | |||
31-May-14 | 31-May-13 | 31-May-14 | 31-May-13 | 31-May-14 | Aug. 31, 2013 | |
Going Conern [Abstract] | ' | ' | ' | ' | ' | ' |
Development Stage Enterprise, Deficit Accumulated During Development Stage | $3,860,919 | ' | $3,860,919 | ' | $3,860,919 | $3,034,887 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | -290,052 | -171,735 | -826,032 | -575,135 | -3,860,919 | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | -265,411 | -287,136 | -1,586,692 | ' |
Working Capital | $196,352 | ' | $196,352 | ' | $196,352 | ' |
Note_3_Summary_of_Significant_1
Note 3. Summary of Significant Accounting Policies (Details) (USD $) | 31-May-14 | Aug. 31, 2013 | 31-May-13 | Aug. 31, 2012 | Sep. 20, 2009 |
Accounting Policies [Abstract] | ' | ' | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | $151,454 | $75,190 | $76,626 | $2,652 | $0 |
Note_4_Accounts_Payable_and_Ad1
Note 4. Accounts Payable and Advances (Details) (USD $) | 9 Months Ended | |
31-May-14 | Aug. 31, 2013 | |
Note 4. Accounts Payable and Advances (Details) [Line Items] | ' | ' |
Proceeds from Short-term Debt | $58,185 | ' |
Other Short-term Borrowings | 216,675 | 0 |
Debt Instrument, Maturity Date, Description | 'on demand | ' |
Convertible Note Payable, February 28, 2014 [Member] | ' | ' |
Note 4. Accounts Payable and Advances (Details) [Line Items] | ' | ' |
Convertible Notes Payable | 158,460 | ' |
K.M. Delaney & Associates [Member] | ' | ' |
Note 4. Accounts Payable and Advances (Details) [Line Items] | ' | ' |
Accounts Payable, Current | $182,000 | ' |
Note_5_Convertible_Notes_Payab2
Note 5. Convertible Notes Payable (Details) (USD $) | 9 Months Ended | 56 Months Ended | |
31-May-14 | 31-May-13 | 31-May-14 | |
Note 5. Convertible Notes Payable (Details) [Line Items] | ' | ' | ' |
Interest Expense, Debt | $33,660 | ' | ' |
Amortization of Debt Discount (Premium) | 403,871 | 234,362 | 1,015,862 |
Convertible Note Payable, August 31, 2011 [Member] | ' | ' | ' |
Note 5. Convertible Notes Payable (Details) [Line Items] | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $0.04 | ' | $0.04 |
Gains (Losses) on Restructuring of Debt | 0 | ' | ' |
Convertible Note Payable, January 31, 2013 [Member] | ' | ' | ' |
Note 5. Convertible Notes Payable (Details) [Line Items] | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $0.10 | ' | $0.10 |
Gains (Losses) on Restructuring of Debt | $0 | ' | ' |
Convertible Note Payable, May 31, 2013 [Member] | ' | ' | ' |
Note 5. Convertible Notes Payable (Details) [Line Items] | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $0.05 | ' | $0.05 |
Note_5_Convertible_Notes_Payab3
Note 5. Convertible Notes Payable (Details) - Schedule of Debt (USD $) | 31-May-14 | Aug. 31, 2013 |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt [Line Items] | ' | ' |
Total convertible notes payable and accrued interest | $313,080 | $639,889 |
Less: current portion of convertible notes payable and accrued interest | -4,904 | -76,617 |
Less: discount on noncurrent convertible notes payable | -281,982 | -521,630 |
Noncurrent convertible notes payable, net of discount | 26,194 | 41,642 |
Convertible Note Payable, August 31, 2011 [Member] | Convertible Debt [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt [Line Items] | ' | ' |
Convertible note payable | 0 | 19,468 |
Convertible Note Payable, January 31, 2013 [Member] | Convertible Debt [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt [Line Items] | ' | ' |
Convertible note payable | 243 | 50,412 |
Convertible Note Payable, May 31, 2013 [Member] | Convertible Debt [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt [Line Items] | ' | ' |
Convertible note payable | 0 | 172,450 |
Convertible Note Payable, August 31, 2013 [Member] | Convertible Debt [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt [Line Items] | ' | ' |
Convertible note payable | 145,254 | 323,895 |
Convertible Note Payable, February 28, 2014 [Member] | Convertible Debt [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt [Line Items] | ' | ' |
Convertible note payable | 158,490 | 0 |
Convertible Note Payable, February 28, 2014 [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt [Line Items] | ' | ' |
Convertible note payable | 158,460 | ' |
Convertible Debt [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt [Line Items] | ' | ' |
Accrued interest payable | $9,093 | $73,664 |
Note_5_Convertible_Notes_Payab4
Note 5. Convertible Notes Payable (Details) - Schedule of Debt (Parentheticals) (USD $) | 9 Months Ended | 12 Months Ended |
31-May-14 | Aug. 31, 2013 | |
Convertible Note Payable, August 31, 2011 [Member] | Convertible Debt [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt (Parentheticals) [Line Items] | ' | ' |
Convertible note payable, convertible into shares of common stock at | $0.05 | $0.05 |
Convertible note payable, dated | 31-Aug-11 | 31-Aug-11 |
Convertible note payable, interest | 10.00% | 10.00% |
Convertible note payable, matures | 31-Aug-13 | 31-Aug-13 |
Convertible Note Payable, August 31, 2011 [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt (Parentheticals) [Line Items] | ' | ' |
Convertible note payable, convertible into shares of common stock at | $0.04 | ' |
Convertible Note Payable, January 31, 2013 [Member] | Convertible Debt [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt (Parentheticals) [Line Items] | ' | ' |
Convertible note payable, convertible into shares of common stock at | $0.10 | $0.10 |
Convertible note payable, dated | 31-Jan-13 | 31-Jan-13 |
Convertible note payable, interest | 10.00% | 10.00% |
Convertible note payable, matures | 31-Jan-15 | 31-Jan-15 |
Convertible Note Payable, January 31, 2013 [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt (Parentheticals) [Line Items] | ' | ' |
Convertible note payable, convertible into shares of common stock at | $0.10 | ' |
Convertible Note Payable, May 31, 2013 [Member] | Convertible Debt [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt (Parentheticals) [Line Items] | ' | ' |
Convertible note payable, convertible into shares of common stock at | $0.05 | $0.05 |
Convertible note payable, dated | 31-May-13 | 31-May-13 |
Convertible note payable, interest | 10.00% | 10.00% |
Convertible note payable, matures | 31-May-15 | 31-May-15 |
Convertible Note Payable, May 31, 2013 [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt (Parentheticals) [Line Items] | ' | ' |
Convertible note payable, convertible into shares of common stock at | $0.05 | ' |
Convertible Note Payable, August 31, 2013 [Member] | Convertible Debt [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt (Parentheticals) [Line Items] | ' | ' |
Convertible note payable, convertible into shares of common stock at | $0.05 | $0.05 |
Convertible note payable, dated | 31-Aug-13 | 31-Aug-13 |
Convertible note payable, interest | 10.00% | 10.00% |
Convertible note payable, matures | 31-Aug-15 | 31-Aug-15 |
Convertible Note Payable, February 28, 2014 [Member] | Convertible Debt [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt (Parentheticals) [Line Items] | ' | ' |
Convertible note payable, convertible into shares of common stock at | $0.05 | ' |
Convertible note payable, dated | 28-Feb-14 | ' |
Convertible note payable, interest | 10.00% | ' |
Convertible note payable, matures | 29-Feb-16 | ' |
Note_5_Convertible_Notes_Payab5
Note 5. Convertible Notes Payable (Details) - Schedule of Debt (USD $) | 31-May-14 | Aug. 31, 2013 |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt [Line Items] | ' | ' |
Less: current portion of convertible notes payable and accrued interest | ($96,319) | $0 |
Noncurrent convertible notes payable, net of discount | 500,288 | 0 |
Chief Executive Officer [Member] | Convertible Note Payable, April 30, 2014 [Member] | Convertible Debt [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt [Line Items] | ' | ' |
Convertible note payable | 150,000 | 0 |
Chief Executive Officer [Member] | Convertible Note Payable, May 27, 2014 [Member] | Convertible Debt [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt [Line Items] | ' | ' |
Convertible note payable | 500,000 | 0 |
Chief Executive Officer [Member] | Convertible Debt [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt [Line Items] | ' | ' |
Accrued interest payable | 1,180 | 0 |
Total convertible notes payable and accrued interest | 651,180 | 0 |
Less: discount on noncurrent convertible notes payable | 0 | 0 |
Convertible Note Payable, April 30, 2014 [Member] | Convertible Debt [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt [Line Items] | ' | ' |
Less: current portion of convertible notes payable and accrued interest | -150,892 | 0 |
Convertible Debt [Member] | ' | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt [Line Items] | ' | ' |
Accrued interest payable | 9,093 | 73,664 |
Less: discount on noncurrent convertible notes payable | $281,982 | $521,630 |
Note_5_Convertible_Notes_Payab6
Note 5. Convertible Notes Payable (Details) - Schedule of Debt (Parentheticals) (Chief Executive Officer [Member], Convertible Debt [Member], USD $) | 9 Months Ended |
31-May-14 | |
Convertible Note Payable, April 30, 2014 [Member] | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt (Parentheticals) [Line Items] | ' |
Convertible note payable, dated | 30-Apr-14 |
Convertible note payable, interest | 7.00% |
Convertible note payable, matures | 30-Apr-16 |
Convertible note payable, convertible at | $0.05 |
Convertible Note Payable, May 27, 2014 [Member] | ' |
Note 5. Convertible Notes Payable (Details) - Schedule of Debt (Parentheticals) [Line Items] | ' |
Convertible note payable, dated | 27-May-14 |
Convertible note payable, interest | 7.00% |
Convertible note payable, matures | 30-May-16 |
Convertible note payable, convertible at | $0.05 |
Note_5_Convertible_Notes_Payab7
Note 5. Convertible Notes Payable (Details) - Schedule of Debt conversions (USD $) | 9 Months Ended | 56 Months Ended | 0 Months Ended | 9 Months Ended | ||||||
31-May-14 | 31-May-13 | 31-May-14 | Oct. 15, 2013 | Oct. 04, 2013 | Oct. 01, 2013 | 31-May-14 | Oct. 15, 2013 | Oct. 04, 2013 | Oct. 01, 2013 | |
Convertible Note Payable, August 31, 2011 [Member] | Convertible Note Payable, August 31, 2011 [Member] | Convertible Note Payable, August 31, 2011 [Member] | Convertible Note Payable, August 31, 2011 [Member] | Convertible Note Payable, August 31, 2011 [Member] | Convertible Note Payable, August 31, 2011 [Member] | Convertible Note Payable, August 31, 2011 [Member] | ||||
Debt Conversion [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount Converted | $516,804 | $170,860 | $1,109,780 | $15,000 | $30,000 | $30,000 | $75,000 | ' | ' | ' |
Common Shares Issued (in Shares) | 9,755,600 | ' | ' | 300,000 | 600,000 | 600,000 | 1,500,000 | ' | ' | ' |
Unamortized Discount | ' | ' | ' | ' | ' | ' | $0 | $0 | $0 | $0 |
Note_5_Convertible_Notes_Payab8
Note 5. Convertible Notes Payable (Details) - Schedule of Debt conversions (USD $) | 9 Months Ended | 56 Months Ended | 0 Months Ended | 9 Months Ended | ||
31-May-14 | 31-May-13 | 31-May-14 | Oct. 08, 2013 | 31-May-14 | Oct. 08, 2013 | |
Convertible Note Payable, January 31, 2013 [Member] | Convertible Note Payable, January 31, 2013 [Member] | Convertible Note Payable, January 31, 2013 [Member] | ||||
Debt Conversion [Line Items] | ' | ' | ' | ' | ' | ' |
Amount Converted | $516,804 | $170,860 | $1,109,780 | $60,000 | $60,000 | ' |
Common Shares Issued (in Shares) | 9,755,600 | ' | ' | 600,000 | 600,000 | ' |
Unamortized Discount | ' | ' | ' | ' | $21,805 | $21,805 |
Note_5_Convertible_Notes_Payab9
Note 5. Convertible Notes Payable (Details) - Schedule of Debt conversions (USD $) | 9 Months Ended | 56 Months Ended | 0 Months Ended | 9 Months Ended | ||||||||
31-May-14 | 31-May-13 | 31-May-14 | Feb. 11, 2014 | Jan. 29, 2014 | Jan. 20, 2014 | Dec. 02, 2013 | 31-May-14 | Feb. 11, 2014 | Jan. 29, 2014 | Jan. 20, 2014 | Dec. 02, 2013 | |
Convertible Note Payable, May 31, 2013 [Member] | Convertible Note Payable, May 31, 2013 [Member] | Convertible Note Payable, May 31, 2013 [Member] | Convertible Note Payable, May 31, 2013 [Member] | Convertible Note Payable, May 31, 2013 [Member] | Convertible Note Payable, May 31, 2013 [Member] | Convertible Note Payable, May 31, 2013 [Member] | Convertible Note Payable, May 31, 2013 [Member] | Convertible Note Payable, May 31, 2013 [Member] | ||||
Debt Conversion [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount Converted | $516,804 | $170,860 | $1,109,780 | $22,780 | $40,000 | $40,000 | $80,000 | $182,780 | ' | ' | ' | ' |
Common Shares Issued (in Shares) | 9,755,600 | ' | ' | 455,600 | 800,000 | 800,000 | 1,600,000 | 3,655,600 | ' | ' | ' | ' |
Unamortized Discount | ' | ' | ' | ' | ' | ' | ' | $160,455 | $20,259 | $36,929 | $36,004 | $67,263 |
Recovered_Sheet1
Note 5. Convertible Notes Payable (Details) - Schedule of Debt conversions (USD $) | 9 Months Ended | 56 Months Ended | 0 Months Ended | 9 Months Ended | ||||||||
31-May-14 | 31-May-13 | 31-May-14 | 20-May-14 | Apr. 14, 2014 | Mar. 21, 2014 | Mar. 14, 2014 | 31-May-14 | 20-May-14 | Apr. 14, 2014 | Mar. 21, 2014 | Mar. 14, 2014 | |
Convertible Note Payable, August 31, 2013 [Member] | Convertible Note Payable, August 31, 2013 [Member] | Convertible Note Payable, August 31, 2013 [Member] | Convertible Note Payable, August 31, 2013 [Member] | Convertible Note Payable, August 31, 2013 [Member] | Convertible Note Payable, August 31, 2013 [Member] | Convertible Note Payable, August 31, 2013 [Member] | Convertible Note Payable, August 31, 2013 [Member] | Convertible Note Payable, August 31, 2013 [Member] | ||||
Debt Conversion [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount Converted | $516,804 | $170,860 | $1,109,780 | $50,000 | $50,000 | $50,000 | $50,000 | $200,000 | ' | ' | ' | ' |
Common Shares Issued (in Shares) | 9,755,600 | ' | ' | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 4,000,000 | ' | ' | ' | ' |
Unamortized Discount | ' | ' | ' | ' | ' | ' | ' | $167,285 | $44,674 | $45,389 | $46,357 | $30,865 |
Note_6_Stockholders_Equity_Det
Note 6. Stockholders' Equity (Details) (USD $) | 3 Months Ended | 9 Months Ended | 56 Months Ended | 0 Months Ended | 0 Months Ended | 9 Months Ended | ||||||||
31-May-14 | 31-May-13 | 31-May-14 | 31-May-13 | 31-May-14 | Aug. 31, 2013 | 21-May-14 | 21-May-14 | 21-May-14 | 21-May-14 | 31-May-14 | 21-May-14 | 27-May-14 | Apr. 30, 2014 | |
My Go Games LLC ("MGG") Joint Venture [Member] | My Go Games LLC ("MGG") Joint Venture [Member] | My Go Games LLC ("MGG") Joint Venture [Member] | My Go Games LLC ("MGG") Joint Venture [Member] | My Go Games LLC ("MGG") Joint Venture [Member] | My Go Games LLC ("MGG") Joint Venture [Member] | Convertible Debt [Member] | Convertible Debt [Member] | |||||||
Great Outdoors, LLC ("GO") [Member] | Great Outdoors, LLC ("GO") [Member] | Corporate Joint Venture [Member] | ||||||||||||
Note 6. Stockholders' Equity (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares Authorized (in Shares) | 100,000,000 | ' | 100,000,000 | ' | 100,000,000 | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $0.00 | ' | $0.00 | ' | $0.00 | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Outstanding (in Shares) | 24,989,939 | ' | 24,989,939 | ' | 24,989,939 | 15,234,339 | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Parent | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' |
Number of Governors Appointed | ' | ' | ' | ' | ' | ' | 2 | ' | 1 | 3 | ' | ' | ' | ' |
Debt Instrument, Face Amount (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $500,000 | $150,000 |
Income (Loss) from Equity Method Investments (in Dollars) | ($2,072) | $0 | ($2,072) | $0 | ($2,072) | ' | ' | ' | ' | ' | $2,072 | ' | ' | ' |
Note_6_Stockholders_Equity_Det1
Note 6. Stockholders' Equity (Details) - Schedule of Debt Conversions (USD $) | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | ||||||||
31-May-14 | Oct. 15, 2013 | Oct. 04, 2013 | Oct. 01, 2013 | 31-May-14 | Oct. 08, 2013 | 31-May-14 | Feb. 11, 2014 | Jan. 29, 2014 | Jan. 20, 2014 | Dec. 02, 2013 | 31-May-14 | 20-May-14 | Apr. 14, 2014 | Mar. 21, 2014 | Mar. 14, 2014 | 31-May-14 | |
Convertible Note Payable, August 31, 2011 [Member] | Convertible Note Payable, August 31, 2011 [Member] | Convertible Note Payable, August 31, 2011 [Member] | Convertible Note Payable, August 31, 2011 [Member] | Convertible Note Payable, January 31, 2013 [Member] | Convertible Note Payable, January 31, 2013 [Member] | Convertible Note Payable, May 31, 2013 [Member] | Convertible Note Payable, May 31, 2013 [Member] | Convertible Note Payable, May 31, 2013 [Member] | Convertible Note Payable, May 31, 2013 [Member] | Convertible Note Payable, May 31, 2013 [Member] | Convertible Note Payable, August 31, 2013 [Member] | Convertible Note Payable, August 31, 2013 [Member] | Convertible Note Payable, August 31, 2013 [Member] | Convertible Note Payable, August 31, 2013 [Member] | Convertible Note Payable, August 31, 2013 [Member] | ||
Debt Conversion [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount Converted | $517,780 | $15,000 | $30,000 | $30,000 | ' | $60,000 | ' | $22,780 | $40,000 | $40,000 | $80,000 | ' | $50,000 | $50,000 | $50,000 | $50,000 | ' |
Common Shares Issued | 9,755,600 | 300,000 | 600,000 | 600,000 | 1,500,000 | 600,000 | 600,000 | 455,600 | 800,000 | 800,000 | 1,600,000 | 3,655,600 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 4,000,000 |
Note_6_Stockholders_Equity_Det2
Note 6. Stockholders' Equity (Details) - Condensed Balance Sheet (USD $) | 31-May-14 | Aug. 31, 2013 | 31-May-13 | Aug. 31, 2012 | Sep. 20, 2009 |
ASSETS | ' | ' | ' | ' | ' |
Cash | $151,454 | $75,190 | $76,626 | $2,652 | $0 |
Total Assets | 649,739 | 75,190 | ' | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' |
Total Current Liabilities | 348,163 | 168,691 | ' | ' | ' |
Long-Term Liabilities | ' | ' | ' | ' | ' |
Total Liabilities | 874,645 | 210,334 | ' | ' | ' |
Retained Earnings | ' | ' | ' | ' | ' |
TOTAL LIABILITIES AND EQUITY | 649,739 | 75,190 | ' | ' | ' |
Corporate Joint Venture [Member] | ' | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' |
Cash | 498,946.47 | ' | ' | ' | ' |
Total Assets | 498,946.47 | ' | ' | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' |
Accounts Payable (A/P) | 10,558.69 | ' | ' | ' | ' |
Total Current Liabilities | 10,558.69 | ' | ' | ' | ' |
Long-Term Liabilities | ' | ' | ' | ' | ' |
Convertible Loan Payable | 500,000 | ' | ' | ' | ' |
Total Long-Term Liabilities | 500,000 | ' | ' | ' | ' |
Total Liabilities | 510,558.69 | ' | ' | ' | ' |
Equity | ' | ' | ' | ' | ' |
GO, LLC Equity | 500 | ' | ' | ' | ' |
Total Member Capital | 500 | ' | ' | ' | ' |
Retained Earnings | ' | ' | ' | ' | ' |
Net Income | -12,112.22 | ' | ' | ' | ' |
Total Equity | -11,612.22 | ' | ' | ' | ' |
TOTAL LIABILITIES AND EQUITY | $498,946.47 | ' | ' | ' | ' |
Note_7_Related_Parties_Details
Note 7. Related Parties (Details) (USD $) | 3 Months Ended | |
31-May-14 | Apr. 30, 2014 | |
Great Outdoors, LLC ("GO") [Member] | ' | ' |
Note 7. Related Parties (Details) [Line Items] | ' | ' |
Number of Notes Payable | 2 | ' |
Debt Instrument, Face Amount (in Dollars) | $650,000 | $650,000 |
My Go Games LLC ("MGG") Joint Venture [Member] | Great Outdoors, LLC ("GO") [Member] | ' | ' |
Note 7. Related Parties (Details) [Line Items] | ' | ' |
Equity Method Investment, Ownership Percentage | 80.00% | ' |
My Go Games LLC ("MGG") Joint Venture [Member] | ' | ' |
Note 7. Related Parties (Details) [Line Items] | ' | ' |
Equity Method Investment, Ownership Percentage | 20.00% | ' |
Note_8_Subsequent_Events_Detai
Note 8. Subsequent Events (Details) (USD $) | 9 Months Ended | 56 Months Ended | 0 Months Ended | 0 Months Ended | |||||||||||||||
31-May-14 | 31-May-13 | 31-May-14 | Aug. 31, 2013 | Jun. 19, 2014 | Jun. 19, 2014 | Jun. 19, 2014 | Jun. 19, 2014 | Jun. 19, 2014 | Jun. 19, 2014 | Jun. 19, 2014 | Jun. 19, 2014 | Jun. 19, 2014 | Jun. 19, 2014 | Jun. 19, 2014 | Jun. 19, 2014 | 31-May-14 | 31-May-14 | Jun. 19, 2014 | |
Chief Executive Officer [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | My Go Games LLC ("MGG") Joint Venture [Member] | My Go Games LLC ("MGG") Joint Venture [Member] | My Go Games LLC ("MGG") Joint Venture [Member] | |||||
Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | My Go Games LLC ("MGG") Joint Venture [Member] | My Go Games LLC ("MGG") Joint Venture [Member] | My Go Games LLC ("MGG") Joint Venture [Member] | My Go Games LLC ("MGG") Joint Venture [Member] | Future Equity Ownership Upon Conversion of Notes Payable [Member] | Future Equity Ownership Upon Conversion of Options [Member] | Great Outdoors, LLC ("GO") [Member] | Great Outdoors, LLC ("GO") [Member] | Great Outdoors, LLC ("GO") [Member] | Great Outdoors, LLC ("GO") [Member] | |||||||
My Go Games LLC ("MGG") Joint Venture [Member] | Great Outdoors, LLC ("GO") [Member] | Great Outdoors, LLC ("GO") [Member] | Minimum [Member] | Maximum [Member] | Great Outdoors, LLC ("GO") [Member] | Great Outdoors, LLC ("GO") [Member] | |||||||||||||
Note 8. Subsequent Events (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Acquisitions (in Shares) | ' | ' | ' | ' | ' | ' | ' | 50,323,526 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | 20.00% | 66.82% |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 66.82% | ' | ' | ' | ' |
Business Acquisition, Planned Restructuring Activities, Description | ' | ' | ' | ' | ' | ' | ' | ' | 'i) increase the total number of shares of common stock that the Company has authority to issue to 250,000,000 shares of common stock, par value $0.0001 (the "Authorized Share Increase"); (ii) change the name of the Company from "OBJ Enterprises, Inc." to "MyGo Games Holding Co." (the "Name Change"); and (iii) stagger positions on the Company's Board of Directors into three classes, with the term of office of two director positions to expire at the annual meeting of shareholders next ensuing; another two director positions to expire one year after the annual meeting next ensuing; and another three director positions to expire two years after the annual meeting next ensuing (the "Staggered Board Approval") | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares Authorized (in Shares) | 100,000,000 | ' | 100,000,000 | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000,000 | ' | ' | ' |
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $0.00 | ' | $0.00 | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.00 | ' | ' | ' |
Extended Term of Director | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Directors | ' | ' | ' | ' | ' | ' | ' | ' | 7 | 1 | 10 | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercise Price (in Dollars per share) | ' | ' | ' | ' | $0.05 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | ' | ' | ' | ' | 82,660,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Issued (in Shares) | 24,989,939 | ' | 24,989,939 | 15,234,339 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,313,465 | ' | ' | ' |
Common Stock, Shares, Outstanding (in Shares) | 24,989,939 | ' | 24,989,939 | 15,234,339 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,313,465 | ' | ' | ' |
Debt Instrument, Convertible, Number of Equity Instruments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,000,000 | ' | ' | ' | ' | ' |
Sale of Stock, Percentage of Ownership after Transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 71.70% | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | ' | ' | ' | ' | ' | 30,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions | 20.00% | 20.00% | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 78.88% | ' | ' | ' | ' | ' | ' |