Ignyta 10-K 31 Oct 13 2013 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Aug. 31, 2013
Document and Entity Information:
Entity Registrant Name	Infinity Oil & Gas Company
Document Type	10-K
Document Period End Date	31-Aug-13
Amendment Flag	FALSE
Entity Central Index Key	1557421
Current Fiscal Year End Date	-23
Entity Common Stock, Shares Outstanding	8,733,600
Entity Public Float	$0
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	Yes
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	FY

Infinity_Oil_Gas_Company_An_Ex

Infinity Oil & Gas Company (An Exploration Stage Company) Balance Sheets (Audited) (USD $)	Aug. 31, 2013	Aug. 31, 2012
Current Assets:
Cash and cash equivalents	$2,652	$5,080
Total current assets	2,652	5,080
Royalty interests in oil project, net	45,000
TOTAL ASSETS	47,652	5,080
Current Liabilities:
Accounts payable and accrued expenses	2,000	15,000
Short-term borrowings from related party	23,172	5,104
Total Liabilities	25,172	20,104
Common stock, $0.00001 par value; 50,000,000 shares authorized; 8,733,600 shares issued and outstanding at August 31, 2013 and 16,000,000 as of August 31, 2012	87	160
Additional paid-in capital	91,613	-80
Accumulated deficit during exploration stage	-69,220	-15,104
Total stockholders' equity	22,480	-15,024
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$47,652	$5,080

Infinity_Oil_Gas_Company_An_Ex1

Infinity Oil & Gas Company (An Exploration Stage Company) Statement of Operations (USD $)	12 Months Ended
	Aug. 31, 2013	Aug. 31, 2013	Aug. 31, 2012
Royalty revenues	$6,000	$6,000	$0
Operating expenses:
Consulting fees	38,000	38,000	0
Depletion expense	5,000	5,000	0
Filing fees	2,833	2,833	0
Professional fees	12,775	27,775	15,000
Other costs	520	520	0
Total operating expenses	-59,128	-74,128	-15,000
Loss from operations	-53,128	-68,128	-15,000
Other Income/(expenses)
Interest expense	-988	-1,092	-104
Net Loss	($54,116)	($69,220)	($15,104)
Loss per share - basic and diluted:
Loss per common share of common stock	$0		$0
Weighted average number of common shares outstanding	12,277,405		14,545,455

Infinity_Oil_Gas_Company_An_Ex2

Infinity Oil & Gas Company (An Exploration Stage Company) Statement of Stockholders' Equity (USD $)	0 Months Ended	12 Months Ended
	Aug. 31, 2012	Aug. 31, 2013
Common Stock Shares
Balances, shares and amount	$0
Common stock issued for cash at $0.125 per share		733,600
Acquisition of treasury stock, 8,000,000 shares at $0.00001 per share		0
Retirement of treasury stock		-8,000,000
Common stock issued for cash at $0.000005 per share	16,000,000
Loss for the period	0	0
Balance	16,000,000	8,733,600
Common Stock Amount
Balances, shares and amount	0
Common stock issued for cash at $0.125 per share		7
Acquisition of treasury stock, 8,000,000 shares at $0.00001 per share		0
Retirement of treasury stock		-80
Common stock issued for cash at $0.000005 per share	160
Loss for the period	0	0
Balance	160	87
Additional Paid-In Capital
Balances, shares and amount	0
Common stock issued for cash at $0.125 per share		91,693
Acquisition of treasury stock, 8,000,000 shares at $0.00001 per share		0
Retirement of treasury stock		0
Common stock issued for cash at $0.000005 per share	-80
Loss for the period	0	0
Balance	-80	91,613
Accumulated Deficit During Exploration Stage
Balances, shares and amount	0
Common stock issued for cash at $0.125 per share		0
Acquisition of treasury stock, 8,000,000 shares at $0.00001 per share		0
Retirement of treasury stock		0
Common stock issued for cash at $0.000005 per share	0
Loss for the period	-15,104	-54,116
Balance	-15,104	-69,220
Treasury Stock
Balances, shares and amount	0
Common stock issued for cash at $0.125 per share		0
Acquisition of treasury stock, 8,000,000 shares at $0.00001 per share		-80
Retirement of treasury stock		80
Common stock issued for cash at $0.000005 per share	0
Loss for the period	0	0
Balance	0	0
Total Stockholders' Equity
Balances, shares and amount	0
Common stock issued for cash at $0.125 per share		91,700
Acquisition of treasury stock, 8,000,000 shares at $0.00001 per share		-80
Retirement of treasury stock		0
Common stock issued for cash at $0.000005 per share	80
Loss for the period	-15,104	-54,116
Balance	($15,104)	$22,480

Infinity_Oil_Gas_Company_An_Ex3

Infinity Oil & Gas Company (An Exploration Stage Company) Statement of Cash Flows (USD $)	12 Months Ended
	Aug. 31, 2013	Aug. 31, 2012
Cash Flows from Operating Activities
Net loss	($54,116)	($15,104)
Adjustments to reconcile net loss to net cash used in operating activities:
Depletion expense	5,000	0
Interest expense	988	104
Changes in operating assets and liabilities:
Accounts payable and accrued expenses	-13,000	15,000
Net cash used in operating activities	-61,128	0
Cash Flows from Investing Activities
Acquisition of royalty interests in oil properties	-50,000	0
Net cash used in investing activities	-50,000	0
Cash Flows from Financing Activities
Proceeds from short-term borrowings	17,000	5,000
Proceeds from issuance of common stock	91,700	80
Net cash provided by financing activities	108,700	5,080
Movement in cash and cash equivalents	-2,428	0
Cash and cash equivalents at beginning of the period	5,080	0
Cash and cash equivalents at end of period	2,652	5,080
Non-cash investing and financing activities:
Acquisition of treasury stock	($80)	($80)

Note_1_Nature_of_Business_and_

Note 1 - Nature of Business and Basis of Preparation	12 Months Ended
	Aug. 31, 2013
Notes
Note 1 - Nature of Business and Basis of Preparation	NOTE 1 – NATURE OF BUSINESS AND BASIS OF PRESENTATION
	Infinity Oil & Gas Company is a Nevada corporation (the “Company”), incorporated under the laws of the State of Nevada on August 21, 2012. The Company is in the exploration stage as defined by Accounting Standards Codification 915 (ASC 915), “Development Stage Entities”. The business plan of the Company is buying property for oil and gas drilling, buying oil and gas leases and acquiring and managing oil and gas royalties.
	Royalties are non-operating interests in oil projects that provide the right to revenue from the project after deducting specified costs, if any, and we use the terms "royalties" in these notes to the financial statements to refer to royalties and other similar interests.
	Basis of Presentation
	The financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (U.S. GAAP). The financial statements have been prepared on the historical cost basis. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
	Fiscal Year End
	The Corporation has adopted a fiscal year end of August 31.
	Going concern
	The accompanying financial statements have been prepared assuming that the Company will continue as a going concern.  The Company has not established a source of revenue sufficient to cover operating costs and has a working capital deficit. This raises substantial doubt about the Company’s ability to continue as a going concern. Without realization of additional capital, it would be unlikely for the Company to continue as a going concern. The  financial statements  do  not  include  any  adjustments  that  might  result  from  this uncertainty.
	In view of these matters, continuation as a going concern is dependent upon the continued operations of the Company, which in turn is dependent upon the Company’s ability to meet its financial requirements, raise additional capital, and the success of its future operations.  The financial statements do not include any adjustments to the amount and classification of assets and liabilities that may be necessary should the Company not continue as a going concern.
	The Company plans to improve its financial condition through the sale of public equity securities until such time that funds provided by operations are sufficient to fund working capital requirements.. However, there is no assurance that the Company will be successful in accomplishing this objective. Management believes that this plan provides an opportunity for the Company to continue as a going concern.
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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 or revenues and expenses during the reporting period.  Actual results could differ from those estimates.

Note_2_Summary_of_Significant_

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Aug. 31, 2013
Notes
Note 2 - Summary of Significant Accounting Policies	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	The principal accounting policies are set out below, these policies have been consistently applied to the period presented, unless otherwise stated:
	Cash and cash equivalents
	Cash and equivalents include investments with initial maturities of three months or less. The Company maintains its cash balances at credit-worthy financial institutions that are insured by the Federal Deposit Insurance Corporation ("FDIC") up to $250,000.
	Oil and natural gas properties
	The Company follows the full-cost method of accounting for oil and gas properties.  Accordingly, all costs associated with acquisition, exploration and development of oil and gas reserves, including directly related overhead costs, are capitalized.
	All capitalized costs of oil and gas properties, including the estimated future costs to develop proved reserves, are amortized on the unit-of-production method using estimates of proved reserves.  Investments in unproved properties and major development projects are not amortized until proved reserves associated with the projects can be determined or until impairment occurs. If the results of an assessment indicate that the properties are impaired, the amount of the impairment is included in loss from continuing operations before income taxes and the adjusted carrying amount of the unproved properties is amortized on the unit-of-production method.
	Royalty interests in oil projects
	Royalty interests in oil projects include acquired royalty interests in production, development and exploration stage oil projects. The costs of acquired royalty interests in oil projects are capitalized as tangible assets as such interests do not meet the definition of a financial asset under ASC guidance.
	Acquisition costs of production stage royalty interests are depleted using the units of production method over the life of the oil project, which is estimated using proven and probable reserves as provided by the operator.
	Acquisition costs of development stage royalty interests, which are not yet in production, are not amortized until the project begins production.
	Acquisition costs of exploration stage royalty interests, where there are no proven and probable reserves, are not amortized. At such time as the associated exploration stage oil project interests are converted to proven and probable reserves, the cost basis is amortized over the remaining life of the oil project, using proven and probable reserves. The carrying values of exploration stage oil projects are evaluated for impairment at such time as information becomes available indicating that the costs may not be recoverable from future production. Exploration costs are charged to operations when incurred.
	Asset Impairment
	The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that the related carrying amounts of an asset or group of assets may not be recoverable.
	The recoverability of the carrying value of royalty interests in production and development stage oil projects is evaluated based upon estimated future undiscounted net cash flows from each royalty interest project using estimates of proven and probable reserves and other relevant information received from the operator.
	The recoverability of the carrying value of royalty interests in exploration stage oil projects in the event of significant decreases in the price of oil, and whenever new information regarding the project is obtained from the operator indicating that production will not likely occur in the future, thus affecting the future recoverability of our royalty interests. Impairments in the carrying value of each project are measured and recorded to the extent that the carrying value in each project exceeds its estimated fair value, which is generally calculated using estimated future discounted cash flows.
	Estimates of oil prices, the operator's estimates of proven and probable reserves and operator's estimates of operating, capital and reclamation costs are subject to certain risks and uncertainties which may affect the recoverability of investment in these royalty interests in oil projects. Although management have made their best assessment of these factors based on current conditions, it is possible that changes could occur, which could adversely affect the net cash flows expected to be generated from these royalty interests.
	Royalty Revenue
	Royalty revenue is recognized in accordance with the guidance of ASC 605 and based upon amounts contractually due pursuant to the underlying royalty agreement. Specifically, revenue is recognized in accordance with the terms of the underlying royalty agreements subject to (i) the pervasive evidence of the existence of the arrangements; (ii) the risks and rewards having been transferred; (iii) the royalty being fixed or determinable; and (iv) the collectability of the royalty being reasonably assured.
	Revenue recognized pursuant to the Global Vision Consulting ("GVC") royalty agreement is based upon 10% of revenue received by the operator of the oil project, reduced by certain costs incurred by GVC.
	Property, Plant and Equipment
	The Company does not own any property, plant and equipment.
	Accounts payable and accrued expenses
	Accounts payable and accrued expenses are carried at amortized cost and represent liabilities for goods and services provided to the Company prior to the end of the financial year that are unpaid and arise when the Company becomes obliged to make future payments in respect of the purchase of these goods and services.
	Earnings per share
	The Company computes net loss per share in accordance with ASC 260, "Earnings Per Share" ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is calculated by dividing the profit or loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted EPS is determined by adjusting the profit or loss attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all potential dilutive common shares, which comprise options granted to employees. As at August 31, 2013, the Company had no potentially dilutive shares.
	Income taxes
	Income taxes are accounted for in accordance with ASC Topic 740, “Income Taxes.”  Under the asset and liability method, deferred tax assets and liabilities are recognized for the future consequences of differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases (temporary differences).  Deferred tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are recovered or settled.  Valuation allowances for deferred tax assets are established when it is more likely than not that some portion or all of the deferred tax assets will not be realized.
	Treasury Stock
	We account for treasury stock under the cost method. When treasury stock is re-issued at a price higher than its cost, the difference is recorded as a component of additional paid-in-capital in our Balance Sheets. When treasury stock is re-issued at a price lower than its cost, the difference is recorded as a component of additional paid-in-capital to the extent that there are gains to offset the losses. If there are no treasury stock gains in additional paid-in-capital, the losses upon re-issuance of treasury stock are recorded as a component of retained earnings in our Balance Sheets. The Company’s accounting policy upon the formal retirement of treasury stock is to deduct its par value from Common Stock and to reflect any excess of cost over par value as a deduction from Additional Paid-in Capital.
	Recent Accounting Pronouncements
	Company management does not believe that the adoption of recently issued accounting pronouncements will have a significant impact on the Company’s financial position, results of operations, or cash flows.
	Operating Segments and Geographical Information
	The Company manages its business under a single operating segment, consisting of Oil and Gas mining operations and Oil and Gas royalty acquisitions. Infinity Oil & Gas Company's royalty revenue and long-lived assets (royalty interests in oil projects, net) are geographically distributed as shown in the following table:
		Royalty Interests in
		Oil Projects, net
	United States	10%

Note_3_Royalty_Acquisitions

Note 3 - Royalty Acquisitions	12 Months Ended
	Aug. 31, 2013
Notes
Note 3 - Royalty Acquisitions	NOTE 3 – ROYALTY ACQUISITIONS
	Global Vision Consulting Acquisition
	On May 24, 2013, the Company entered into an agreement with Global Vision Consulting (GVC), an oil refinery technology project located in the United States; which refines oil sludge, sourced from the United Kingdom into clean refined oil. Pursuant to the agreement, Infinity Oil & Gas Company acquired 10% of GVC’s net project income from GVC’s refined oil sales. The royalty interest was acquired for $50,000.
	The acquisition of the GVC royalty interest has been accounted for as an asset acquisition. The total purchase price of $50,000, plus direct transaction costs, has been recorded as a component of Royalty interests in oil projects, net in our balance sheets. We have allocated $50,000 as a production stage royalty interest. The Company paid the purchase price from cash on hand.

Note_4_Royalty_Interest_in_Oil

Note 4 - Royalty Interest in Oil Projects, Net	12 Months Ended
	Aug. 31, 2013
Notes
Note 4 - Royalty Interest in Oil Projects, Net	NOTE 4 – ROYALTY INTEREST IN OIL PROJECTS, NET
	The following summarizes the Company's principal royalty interests in oil projects as of August 31, 2013:
		Cost	Accumulated Depletion	Net
	Production stage royalty interests: - Global Vision Consulting	50,000	-5,000	45,000
	Total royalty interests in oil projects	50,000	-5,000	45,000

Note_5_Shortterm_Borrowings_Fr

Note 5 - Short-term Borrowings From Related Party	12 Months Ended
	Aug. 31, 2013
Notes
Note 5 - Short-term Borrowings From Related Party	NOTE 5 – SHORT-TERM BORROWINGS FROM RELATED PARTY
		31-Aug-13	31-Aug-12
		$	$
	Loans from related party	23,172	5,104
	The above loan is unsecured, bears interest at 8% p.a. and has no set terms of repayment.  This loan is payable pursuant to a demand promissory note.

Note_6_Stockholders_Equity

Note 6 - Stockholder's Equity	12 Months Ended
	Aug. 31, 2013
Notes
Note 6 - Stockholder's Equity	NOTE 6 – STOCKHOLDER’S EQUITY
	Common Stock
	On August 22, 2012, the Corporation issued 16,000,000 shares of common stock to the director of the Corporation at a price of $0.000005 per share, for $80, cash.
	On February 15, 2013, the Company issued 733,600 free trading shares of common stock of the Company at a price of $0.125 per share to a total of 38 stockholders, for $91,700, cash.
	On February 18, 2013, the Director approved a two for one forward split of the Company's outstanding shares of common stock. All share and per share data in the accompanying financial statements and footnotes has been adjusted retrospectively for the effects of the stock split.
	Treasury Stock
	Retirement of Treasury Stock
	On February 25, 2013, the Company retired 8,000,000 shares of common stock. These retired shares are now included in the Company’s pool of authorized but unissued shares.

Note_7_Income_Taxes

Note 7 - Income Taxes	12 Months Ended
	Aug. 31, 2013
Notes
Note 7 - Income Taxes	NOTE 7 – INCOME TAXES
	The (benefit)/provision for income taxes for the periods ended August 31, 2013 and 2012 was as follows (assuming a 15% effective tax rate):
		31-Aug-13	31-Aug-12
		$	$
	Current Tax Provision
	Federal-
	Taxable income
	Total current tax provision	0	0
		0	0
	Deferred Tax Provision
	Federal-
	Loss carry forwards	8,117	2,266
	Change in valuation allowance	-8,117	-2,266
	Total deferred tax provision	0	0
	The Corporation had deferred income tax assets as of August 31, 2013 and 2012 as follows:
	Loss carry forwards	10,383	2,266
	Less - Valuation allowance	-10,383	-2,266
	Total Deferred Income Tax Assets	0	0
	The Corporation provided a valuation allowance equal to the deferred income tax assets for period ended August 31, 2013 because it is not presently known whether future taxable income will be sufficient to utilize the loss carryforwards.
	As of August 31, 2013, the Corporation had approximately $69,220 in tax loss carryforwards that can be utilized in future periods to reduce taxable income, and expire by the year 2033.
	The Corporation did not identify any material uncertain tax positions.  The Corporation did not recognize any interest or penalties for unrecognized tax benefits.
	The federal income tax returns of the Corporation are subject to examination by the IRS, generally for three years after they are filed.

Note_8_Fair_Value_Measurements

Note 8 - Fair Value Measurements	12 Months Ended
	Aug. 31, 2013
Notes
Note 8 - Fair Value Measurements	NOTE 8 - FAIR VALUE MEASUREMENTS
	In September 2006, the FASB issued SFAS No. 157 “Fair Value Measurements”.  The objective of SFAS 157 (ASC 820) is to increase consistency and comparability in fair value measurements and to expand disclosures about fair value measurements. SFAS 157 (ASC 820) defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. SFAS 157 (ASC 820) applies under other accounting pronouncements that require or permit fair value measurements and does not require any new fair value measurements.
	The Company has various financial instruments that must be measured under the new fair value standard including: cash in bank. The Company currently does not have non-financial assets or non-financial liabilities that are required to be measured at fair value on a recurring basis. The Company’s financial assets and liabilities are measured using inputs from the three levels of the fair value hierarchy. The three levels are as follows:
	- Level 1:         Quoted prices in active markets for identical instruments;
	- Level 2:         Other significant observable inputs (including quoted prices in active markets for similar instruments);
	- Level 3:         Significant unobservable inputs (including assumptions in determining the fair value of certain investments).
	Financial assets and liabilities carried at fair value and measured on a recurring basis are classified in the hierarchy as follows:
		Fair Value at August 31, 2013
		Level 1	Level 2	Level 3	Total
		$	$	$	$
	Cash and cash equivalents	2,652	-	-	2,652
	Total financial assets carried at fair value	2,652	-	-	2,652
		Fair Value at August 31, 2012
		Level 1	Level 2	Level 3	Total
		$	$	$	$
	Cash and cash equivalents	5,080	-	-	5,080
	Total financial assets carried at fair value	5,080	-	-	5,080

Note_9_Related_Party_Transacti

Note 9 - Related Party Transactions	12 Months Ended
	Aug. 31, 2013
Notes
Note 9 - Related Party Transactions	NOTE 9 – RELATED PARTY TRANSACTIONS
	Details of transactions between the Corporation and related parties are disclosed below.
	The following entities have been identified as related parties:
	Betty Sytner                             Director and greater than 10% stockholder
	The following transactions were carried out with related parties:
		31-Aug-13	31-Aug-12
		$	$
	Balance sheet:
	Short term borrowings – Director’s loan	23,172	5,104
	Income statement:
	Interest expense – Director’s loan	988	104

Note_10_Subsequent_Events

Note 10 - Subsequent Events	12 Months Ended
	Aug. 31, 2013
Notes
Note 10 - Subsequent Events	NOTE 10 – SUBSEQUENT EVENTS
	In accordance with ASC 855-10, Company management reviewed all material events through the date of this report and determined that there are no additional material subsequent events to report.

Note_1_Nature_of_Business_and_1

Note 1 - Nature of Business and Basis of Preparation: Business Description and Accounting Policies (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Business Description and Accounting Policies	Infinity Oil & Gas Company is a Nevada corporation (the “Company”), incorporated under the laws of the State of Nevada on August 21, 2012. The Company is in the exploration stage as defined by Accounting Standards Codification 915 (ASC 915), “Development Stage Entities”. The business plan of the Company is buying property for oil and gas drilling, buying oil and gas leases and acquiring and managing oil and gas royalties.
	Royalties are non-operating interests in oil projects that provide the right to revenue from the project after deducting specified costs, if any, and we use the terms "royalties" in these notes to the financial statements to refer to royalties and other similar interests.

Note_1_Nature_of_Business_and_2

Note 1 - Nature of Business and Basis of Preparation: Basis of Presentation (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Basis of Presentation	Basis of Presentation
	The financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (U.S. GAAP). The financial statements have been prepared on the historical cost basis. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Note_1_Nature_of_Business_and_3

Note 1 - Nature of Business and Basis of Preparation: Fiscal Year End (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Fiscal Year End	Fiscal Year End
	The Corporation has adopted a fiscal year end of August 31.

Note_1_Nature_of_Business_and_4

Note 1 - Nature of Business and Basis of Preparation: Going Concern (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Going Concern	Going concern
	The accompanying financial statements have been prepared assuming that the Company will continue as a going concern.  The Company has not established a source of revenue sufficient to cover operating costs and has a working capital deficit. This raises substantial doubt about the Company’s ability to continue as a going concern. Without realization of additional capital, it would be unlikely for the Company to continue as a going concern. The  financial statements  do  not  include  any  adjustments  that  might  result  from  this uncertainty.
	In view of these matters, continuation as a going concern is dependent upon the continued operations of the Company, which in turn is dependent upon the Company’s ability to meet its financial requirements, raise additional capital, and the success of its future operations.  The financial statements do not include any adjustments to the amount and classification of assets and liabilities that may be necessary should the Company not continue as a going concern.
	The Company plans to improve its financial condition through the sale of public equity securities until such time that funds provided by operations are sufficient to fund working capital requirements.. However, there is no assurance that the Company will be successful in accomplishing this objective. Management believes that this plan provides an opportunity for the Company to continue as a going concern.

Note_1_Nature_of_Business_and_5

Note 1 - Nature of Business and Basis of Preparation: Use of Estimates (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Use of Estimates	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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 or revenues and expenses during the reporting period.  Actual results could differ from those estimates.

Note_2_Summary_of_Significant_1

Note 2 - Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Cash and Cash Equivalents	Cash and cash equivalents
	Cash and equivalents include investments with initial maturities of three months or less. The Company maintains its cash balances at credit-worthy financial institutions that are insured by the Federal Deposit Insurance Corporation ("FDIC") up to $250,000.

Note_2_Summary_of_Significant_2

Note 2 - Summary of Significant Accounting Policies: Oil and Natural Gas Properties (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Oil and Natural Gas Properties	Oil and natural gas properties
	The Company follows the full-cost method of accounting for oil and gas properties.  Accordingly, all costs associated with acquisition, exploration and development of oil and gas reserves, including directly related overhead costs, are capitalized.
	All capitalized costs of oil and gas properties, including the estimated future costs to develop proved reserves, are amortized on the unit-of-production method using estimates of proved reserves.  Investments in unproved properties and major development projects are not amortized until proved reserves associated with the projects can be determined or until impairment occurs. If the results of an assessment indicate that the properties are impaired, the amount of the impairment is included in loss from continuing operations before income taxes and the adjusted carrying amount of the unproved properties is amortized on the unit-of-production method.

Note_2_Summary_of_Significant_3

Note 2 - Summary of Significant Accounting Policies: Royalty Interests in Oil Projects (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Royalty Interests in Oil Projects	Royalty interests in oil projects
	Royalty interests in oil projects include acquired royalty interests in production, development and exploration stage oil projects. The costs of acquired royalty interests in oil projects are capitalized as tangible assets as such interests do not meet the definition of a financial asset under ASC guidance.
	Acquisition costs of production stage royalty interests are depleted using the units of production method over the life of the oil project, which is estimated using proven and probable reserves as provided by the operator.
	Acquisition costs of development stage royalty interests, which are not yet in production, are not amortized until the project begins production.
	Acquisition costs of exploration stage royalty interests, where there are no proven and probable reserves, are not amortized. At such time as the associated exploration stage oil project interests are converted to proven and probable reserves, the cost basis is amortized over the remaining life of the oil project, using proven and probable reserves. The carrying values of exploration stage oil projects are evaluated for impairment at such time as information becomes available indicating that the costs may not be recoverable from future production. Exploration costs are charged to operations when incurred.

Note_2_Summary_of_Significant_4

Note 2 - Summary of Significant Accounting Policies: Asset Impairment (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Asset Impairment	Asset Impairment
	The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that the related carrying amounts of an asset or group of assets may not be recoverable.
	The recoverability of the carrying value of royalty interests in production and development stage oil projects is evaluated based upon estimated future undiscounted net cash flows from each royalty interest project using estimates of proven and probable reserves and other relevant information received from the operator.
	The recoverability of the carrying value of royalty interests in exploration stage oil projects in the event of significant decreases in the price of oil, and whenever new information regarding the project is obtained from the operator indicating that production will not likely occur in the future, thus affecting the future recoverability of our royalty interests. Impairments in the carrying value of each project are measured and recorded to the extent that the carrying value in each project exceeds its estimated fair value, which is generally calculated using estimated future discounted cash flows.
	Estimates of oil prices, the operator's estimates of proven and probable reserves and operator's estimates of operating, capital and reclamation costs are subject to certain risks and uncertainties which may affect the recoverability of investment in these royalty interests in oil projects. Although management have made their best assessment of these factors based on current conditions, it is possible that changes could occur, which could adversely affect the net cash flows expected to be generated from these royalty interests.

Note_2_Summary_of_Significant_5

Note 2 - Summary of Significant Accounting Policies: Royalty Revenue (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Royalty Revenue	Royalty Revenue
	Royalty revenue is recognized in accordance with the guidance of ASC 605 and based upon amounts contractually due pursuant to the underlying royalty agreement. Specifically, revenue is recognized in accordance with the terms of the underlying royalty agreements subject to (i) the pervasive evidence of the existence of the arrangements; (ii) the risks and rewards having been transferred; (iii) the royalty being fixed or determinable; and (iv) the collectability of the royalty being reasonably assured.
	Revenue recognized pursuant to the Global Vision Consulting ("GVC") royalty agreement is based upon 10% of revenue received by the operator of the oil project, reduced by certain costs incurred by GVC.

Note_2_Summary_of_Significant_6

Note 2 - Summary of Significant Accounting Policies: Property, Plant and Equipment (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Property, Plant and Equipment	Property, Plant and Equipment
	The Company does not own any property, plant and equipment.

Note_2_Summary_of_Significant_7

Note 2 - Summary of Significant Accounting Policies: Accounts Payable and Accrued Expenses (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Accounts Payable and Accrued Expenses	Accounts payable and accrued expenses
	Accounts payable and accrued expenses are carried at amortized cost and represent liabilities for goods and services provided to the Company prior to the end of the financial year that are unpaid and arise when the Company becomes obliged to make future payments in respect of the purchase of these goods and services.

Note_2_Summary_of_Significant_8

Note 2 - Summary of Significant Accounting Policies: Earnings Per Share (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Earnings Per Share	Earnings per share
	The Company computes net loss per share in accordance with ASC 260, "Earnings Per Share" ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is calculated by dividing the profit or loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted EPS is determined by adjusting the profit or loss attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all potential dilutive common shares, which comprise options granted to employees. As at August 31, 2013, the Company had no potentially dilutive shares.

Note_2_Summary_of_Significant_9

Note 2 - Summary of Significant Accounting Policies: Income Taxes (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Income Taxes	Income taxes
	Income taxes are accounted for in accordance with ASC Topic 740, “Income Taxes.”  Under the asset and liability method, deferred tax assets and liabilities are recognized for the future consequences of differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases (temporary differences).  Deferred tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are recovered or settled.  Valuation allowances for deferred tax assets are established when it is more likely than not that some portion or all of the deferred tax assets will not be realized.

Recovered_Sheet1

Note 2 - Summary of Significant Accounting Policies: Treasury Stock (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Treasury Stock	Treasury Stock
	We account for treasury stock under the cost method. When treasury stock is re-issued at a price higher than its cost, the difference is recorded as a component of additional paid-in-capital in our Balance Sheets. When treasury stock is re-issued at a price lower than its cost, the difference is recorded as a component of additional paid-in-capital to the extent that there are gains to offset the losses. If there are no treasury stock gains in additional paid-in-capital, the losses upon re-issuance of treasury stock are recorded as a component of retained earnings in our Balance Sheets. The Company’s accounting policy upon the formal retirement of treasury stock is to deduct its par value from Common Stock and to reflect any excess of cost over par value as a deduction from Additional Paid-in Capital.

Recovered_Sheet2

Note 2 - Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	Company management does not believe that the adoption of recently issued accounting pronouncements will have a significant impact on the Company’s financial position, results of operations, or cash flows.

Recovered_Sheet3

Note 2 - Summary of Significant Accounting Policies: Operating Segments and Geographical Information (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Operating Segments and Geographical Information	Operating Segments and Geographical Information
	The Company manages its business under a single operating segment, consisting of Oil and Gas mining operations and Oil and Gas royalty acquisitions. Infinity Oil & Gas Company's royalty revenue and long-lived assets (royalty interests in oil projects, net) are geographically distributed as shown in the following table:
		Royalty Interests in
		Oil Projects, net
	United States	10%

Note_3_Royalty_Acquisitions_Gl

Note 3 - Royalty Acquisitions: Global Vision Consulting Acquisition (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Global Vision Consulting Acquisition	Global Vision Consulting Acquisition
	On May 24, 2013, the Company entered into an agreement with Global Vision Consulting (GVC), an oil refinery technology project located in the United States; which refines oil sludge, sourced from the United Kingdom into clean refined oil. Pursuant to the agreement, Infinity Oil & Gas Company acquired 10% of GVC’s net project income from GVC’s refined oil sales. The royalty interest was acquired for $50,000.
	The acquisition of the GVC royalty interest has been accounted for as an asset acquisition. The total purchase price of $50,000, plus direct transaction costs, has been recorded as a component of Royalty interests in oil projects, net in our balance sheets. We have allocated $50,000 as a production stage royalty interest. The Company paid the purchase price from cash on hand.

Note_6_Stockholders_Equity_Com

Note 6 - Stockholder's Equity: Common Stock (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Common Stock	Common Stock
	On August 22, 2012, the Corporation issued 16,000,000 shares of common stock to the director of the Corporation at a price of $0.000005 per share, for $80, cash.
	On February 15, 2013, the Company issued 733,600 free trading shares of common stock of the Company at a price of $0.125 per share to a total of 38 stockholders, for $91,700, cash.
	On February 18, 2013, the Director approved a two for one forward split of the Company's outstanding shares of common stock. All share and per share data in the accompanying financial statements and footnotes has been adjusted retrospectively for the effects of the stock split.

Note_6_Stockholders_Equity_Ret

Note 6 - Stockholder's Equity: Retirement of treasury stock (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Retirement of treasury stock	Treasury Stock
	Retirement of Treasury Stock
	On February 25, 2013, the Company retired 8,000,000 shares of common stock. These retired shares are now included in the Company’s pool of authorized but unissued shares.

Note_7_Income_Taxes_Income_tax

Note 7 - Income Taxes: Income tax policy (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Income tax policy	The Corporation provided a valuation allowance equal to the deferred income tax assets for period ended August 31, 2013 because it is not presently known whether future taxable income will be sufficient to utilize the loss carryforwards.
	As of August 31, 2013, the Corporation had approximately $69,220 in tax loss carryforwards that can be utilized in future periods to reduce taxable income, and expire by the year 2033.
	The Corporation did not identify any material uncertain tax positions.  The Corporation did not recognize any interest or penalties for unrecognized tax benefits.
	The federal income tax returns of the Corporation are subject to examination by the IRS, generally for three years after they are filed.

Note_8_Fair_Value_Measurements1

Note 8 - Fair Value Measurements: Fair Value Measurement, Policy (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Fair Value Measurement, Policy	In September 2006, the FASB issued SFAS No. 157 “Fair Value Measurements”.  The objective of SFAS 157 (ASC 820) is to increase consistency and comparability in fair value measurements and to expand disclosures about fair value measurements. SFAS 157 (ASC 820) defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. SFAS 157 (ASC 820) applies under other accounting pronouncements that require or permit fair value measurements and does not require any new fair value measurements.
	The Company has various financial instruments that must be measured under the new fair value standard including: cash in bank. The Company currently does not have non-financial assets or non-financial liabilities that are required to be measured at fair value on a recurring basis. The Company’s financial assets and liabilities are measured using inputs from the three levels of the fair value hierarchy. The three levels are as follows:
	- Level 1:         Quoted prices in active markets for identical instruments;
	- Level 2:         Other significant observable inputs (including quoted prices in active markets for similar instruments);
	- Level 3:         Significant unobservable inputs (including assumptions in determining the fair value of certain investments).

Note_9_Related_Party_Transacti1

Note 9 - Related Party Transactions: Description of Transaction with Related Party (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Description of Transaction with Related Party	Details of transactions between the Corporation and related parties are disclosed below.
	The following entities have been identified as related parties:
	Betty Sytner                             Director and greater than 10% stockholder

Note_10_Subsequent_Events_Subs

Note 10 - Subsequent Events: Subsequent Events Policy (Policies)	12 Months Ended
	Aug. 31, 2013
Policies
Subsequent Events Policy	In accordance with ASC 855-10, Company management reviewed all material events through the date of this report and determined that there are no additional material subsequent events to report.

Recovered_Sheet4

Note 2 - Summary of Significant Accounting Policies: Operating Segments and Geographical Information: Royalty revenue and long-lived assets (Tables)	12 Months Ended
	Aug. 31, 2013
Tables/Schedules
Royalty revenue and long-lived assets
		Royalty Interests in
		Oil Projects, net
	United States	10%

Note_4_Royalty_Interest_in_Oil1

Note 4 - Royalty Interest in Oil Projects, Net: Principal royalty interests (Tables)	12 Months Ended
	Aug. 31, 2013
Tables/Schedules
Principal royalty interests
		Cost	Accumulated Depletion	Net
	Production stage royalty interests: - Global Vision Consulting	50,000	-5,000	45,000
	Total royalty interests in oil projects	50,000	-5,000	45,000

Note_5_Shortterm_Borrowings_Fr1

Note 5 - Short-term Borrowings From Related Party: Loans and Leases Receivable, Related Parties, Description (Tables)	12 Months Ended
	Aug. 31, 2013
Tables/Schedules
Loans and Leases Receivable, Related Parties, Description
		31-Aug-13	31-Aug-12
		$	$
	Loans from related party	23,172	5,104

Note_7_Income_Taxes_Summary_of

Note 7 - Income Taxes: Summary of Income Tax Examinations (Tables)	12 Months Ended
	Aug. 31, 2013
Tables/Schedules
Summary of Income Tax Examinations
	The (benefit)/provision for income taxes for the periods ended August 31, 2013 and 2012 was as follows (assuming a 15% effective tax rate):
		31-Aug-13	31-Aug-12
		$	$
	Current Tax Provision
	Federal-
	Taxable income
	Total current tax provision	0	0
		0	0
	Deferred Tax Provision
	Federal-
	Loss carry forwards	8,117	2,266
	Change in valuation allowance	-8,117	-2,266
	Total deferred tax provision	0	0
	The Corporation had deferred income tax assets as of August 31, 2013 and 2012 as follows:
	Loss carry forwards	10,383	2,266
	Less - Valuation allowance	-10,383	-2,266
	Total Deferred Income Tax Assets	0	0

Note_8_Fair_Value_Measurements2

Note 8 - Fair Value Measurements: Fair Value Assets Measured on Recurring Basis (Tables)	12 Months Ended
	Aug. 31, 2013
Tables/Schedules
Fair Value Assets Measured on Recurring Basis	Financial assets and liabilities carried at fair value and measured on a recurring basis are classified in the hierarchy as follows:
		Fair Value at August 31, 2013
		Level 1	Level 2	Level 3	Total
		$	$	$	$
	Cash and cash equivalents	2,652	-	-	2,652
	Total financial assets carried at fair value	2,652	-	-	2,652
		Fair Value at August 31, 2012
		Level 1	Level 2	Level 3	Total
		$	$	$	$
	Cash and cash equivalents	5,080	-	-	5,080
	Total financial assets carried at fair value	5,080	-	-	5,080

Note_9_Related_Party_Transacti2

Note 9 - Related Party Transactions: Related party transactions (Tables)	12 Months Ended
	Aug. 31, 2013
Tables/Schedules
Related party transactions	The following transactions were carried out with related parties:
		31-Aug-13	31-Aug-12
		$	$
	Balance sheet:
	Short term borrowings – Director’s loan	23,172	5,104
	Income statement:
	Interest expense – Director’s loan	988	104

Note_3_Royalty_Acquisitions_Gl1

Note 3 - Royalty Acquisitions: Global Vision Consulting Acquisition (Details)	24-May-13
Acquisition of Net Project Income Royalty Interest	50,000

Note_4_Royalty_Interest_in_Oil2

Note 4 - Royalty Interest in Oil Projects, Net: Principal royalty interests (Details)	31-May-13
Royalty Arrangement
Production stage royalty interests	50,000
Total royalty interests in oil projects	50,000
AccumulatedDepletionMember
Production stage royalty interests	-5,000
Total royalty interests in oil projects	-5,000
NetMember
Production stage royalty interests	45,000
Total royalty interests in oil projects	45,000

Note_5_Shortterm_Borrowings_Fr2

Note 5 - Short-term Borrowings From Related Party: Loans and Leases Receivable, Related Parties, Description (Details)	Aug. 31, 2013	Aug. 31, 2012
Loan from related party	23,172	5,104

Note_6_Stockholders_Equity_Com1

Note 6 - Stockholder's Equity: Common Stock (Details)	Feb. 15, 2013	Aug. 22, 2012
Common Shares Issued	733,600	16,000,000
Price Per Share	0.125	0.000005
Total Amount Paid	91,700	80

Note_6_Stockholders_Equity_Ret1

Note 6 - Stockholder's Equity: Retirement of treasury stock (Details)	1 Months Ended
	Feb. 25, 2013
Treasury Stock, Shares, Retired	8,000,000

Note_7_Income_Taxes_Summary_of1

Note 7 - Income Taxes: Summary of Income Tax Examinations (Details) (USD $)	Aug. 31, 2013	Aug. 31, 2012
Accrued Income Taxes	$0	$0
Operating Loss Carryforwards	8,117	2,266
Change in valuation allowance	-8,117	-2,266
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Provision for Loan Losses	$0	$0
Loss carry forwards	10,383	2,266
Less - Valuation allowance	-10,383	-2,266
Total Deferred Income Tax Assets	0	0

Note_7_Income_Taxes_Income_tax1

Note 7 - Income Taxes: Income tax policy (Details) (USD $)	Aug. 31, 2013
Deferred Tax Assets, Other Loss Carryforwards	$69,220

Note_8_Fair_Value_Measurements3

Note 8 - Fair Value Measurements: Fair Value Assets Measured on Recurring Basis (Details) (USD $)	Aug. 31, 2013	Aug. 31, 2012
Fair Value, Inputs, Level 1
Cash Equivalents, at Carrying Value	$2,652	$5,080
Total financial assets carried at fair value	2,652	5,080
Estimate of Fair Value, Fair Value Disclosure
Cash Equivalents, at Carrying Value	$2,652	$5,080
Total financial assets carried at fair value	2,652	5,080

Note_9_Related_Party_Transacti3

Note 9 - Related Party Transactions: Related party transactions (Details)	Aug. 31, 2013	Aug. 31, 2012
Short-term borrowings - Director's loan	23,172	5,104
Interest expense - Director's loan	988	104