Long-term Debt [Text Block] | 8. Convertible Notes Convertible notes payable consist of the following as of May 31, 2015 and August 31, 2014: May 31, 2015 August 31, 2014 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 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 $0.05 158,490 158,490 Convertible note payable, dated April 30, 2014, bearing interest at 7% per annum, matures on July 8, 2016 and convertible into shares of common stock at $0.05 50,000 50,000 Convertible note payable, dated April 30, 2014, bearing interest at 7% per annum, matures on July 8, 2016 and convertible into shares of common stock at $0.05 25,000 25,000 Convertible note payable, dated April 30, 2014, bearing interest at 7% per annum, matures on July 8, 2016 and convertible into shares of common stock at $0.05 25,000 25,000 Convertible note payable, dated April 30, 2014, bearing interest at 7% per annum, matures on July 8, 2016 and convertible into shares of common stock at $0.05 50,000 50,000 Convertible note payable, dated April 30, 2014, bearing interest at 7% per annum, matures on July 8, 2016 and convertible into shares of common stock at $0.05 91,500 91,500 Convertible note payable, dated May 27, 2014, bearing interest at 7% per annum, matures on May 31, 2017 and convertible into shares of common stock at $0.05 8,500 8,500 Convertible note payable, dated May 27, 2014, bearing interest at 7% per annum, matures on May 31, 2017 and convertible into shares of common stock at $0.05 50,000 50,000 Convertible note payable, dated May 27, 2014, bearing interest at 7% per annum, matures on May 31, 2017 and convertible into shares of common stock at $0.05 25,000 25,000 Convertible note payable, dated May 27, 2014, bearing interest at 7% per annum, matures on May 31, 2017 and convertible into shares of common stock at $0.05 200,000 200,000 Convertible note payable, dated May 27, 2014, bearing interest at 7% per annum, matures on May 31, 2017 and convertible into shares of common stock at $0.05 25,000 25,000 Convertible note payable, dated May 27, 2014, bearing interest at 7% per annum, matures on May 31, 2017 and convertible into shares of common stock at $0.05 50,000 50,000 Convertible note payable, dated May 27, 2014, bearing interest at 7% per annum, matures on May 31, 2017 and convertible into shares of common stock at $0.05 75,000 75,000 Convertible note payable, dated May 27, 2014, bearing interest at 7% per annum, matures on May 31, 2017 and convertible into shares of common stock at $0.05 100,000 100,000 Convertible note payable, dated May 27, 2014, bearing interest at 7% per annum, matures on May 31, 2017 and convertible into shares of common stock at $0.05 50,000 50,000 Convertible note payable, dated May 27, 2014, bearing interest at 7% per annum, matures on May 31, 2017 and convertible into shares of common stock at $0.05 50,000 50,000 Convertible note payable, dated May 27, 2014, bearing interest at 7% per annum, matures on May 31, 2017 and convertible into shares of common stock at $0.05 50,000 50,000 Convertible note payable, dated May 27, 2014, bearing interest at 7% per annum, matures on May 31, 2017 and convertible into shares of common stock at $0.05 100,000 100,000 Convertible note payable, dated May 27, 2014, bearing interest at 7% per annum, matures on May 31, 2017 and convertible into shares of common stock at $0.05 25,000 25,000 Convertible note payable, dated May 31, 2014, bearing interest at 15% per annum, matures on May 31, 2017 and convertible into shares of common stock at $0.05 — 500,000 Convertible note payable, dated July 30, 2014, bearing interest at 15% per annum, matures on January 30, 2017 and convertible into shares of common stock at $0.05 250,000 Convertible note payable, dated July 25, 2014, bearing interest at 15% per annum, matures on January 25, 2017 and convertible into shares of common stock at $0.05 200,000 Convertible note payable, dated August 30, 2014, bearing interest at 15% per annum, matures on February 29, 2017 and convertible into shares of common stock at $0.05 25,000 Accrued interest payable 162,799 71,047 Total convertible notes payable and accrued interest 1,846,289 1,779,780 Less: current portion of convertible notes payable and accrued interest net of current discount — (731,220 ) Less: total remaining discount on convertible notes payable (374,687 ) (208,081 ) Noncurrent convertible notes payable, net of discount and purchase $ 1,471,603 $ 840,479 On October 31, 2014 the Company assumed convertible debts of GO due to various investors in the amount of $308,500. The Convertible Promissory Note bears interest at 7% per annum and is payable along with accrued interest on May 31, 2016. The Convertible Promissory Note is convertible into common stock at the option of the holder at the rate of $0.05 per share. (See Note 4) The maturity date on these notes have been extended to May 31, 2017. On October 31, 2014 the Company assumed convertible debts of GO due to various investors in the amount of $91,500. The Convertible Promissory Note bears interest at 7% per annum and is payable along with accrued interest on May 31, 2015. The Convertible Promissory Note is convertible into common stock at the option of the holder at the rate of $0.05 per share. (See Note 4) The maturity date on these notes have been extended to July 8, 2016. On October 31, 2014 the Company assumed convertible debts of GO due to Ozal in the amount of $500,000. The Convertible Promissory Note bears interest at 10% per annum if paid back in cash and 15% if converted to stock. This note is payable along with accrued interest on May 31, 2016. The Convertible Promissory Note is convertible into common stock at the option of the holder at the rate of $0.05 per share. On November 5, 2014 this convertible note and $75,000 of interest was converted into 11,500,000 common shares of the Company. (See Note 4) During the quarter ended November 30, 2014, the Company completed the conversion of three advances made to the Company totaling $475,000 into convertible notes. These notes bear an interest rate of 10% per annum if paid in cash and 15% per annum if paid in common stock of the company. These Convertible Promissory Notes mature 18 months after issuance and are convertible into common stock at the option of the holder at the rate of $0.05 per share. The Company recognized a beneficial conversion feature on these notes as described below. (See Note 4) The Company evaluated the terms of these notes in accordance with ASC 815 – 40, Derivatives and Hedging - Contracts in Entity’s Own Stock During the quarter ended November 30, 2014, Mr. Ozal 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. This note originally matured on May 31, 2015. There were no unamortized discounts on the principal converted below. No gain or loss was recognized on the conversions as they occurred within the terms of the agreement. Date Amount Converted Number of Shares Issued November 5, 2014 $ 575,000 11,500,000 Total $ 575,000 11,500,000 |