Innovation1 Biotech (IVBT) 10-K 17 Dec 19 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Aug. 31, 2019	Dec. 12, 2019	Feb. 28, 2019
Document And Entity Information
Entity Registrant Name	GRIDIRON BIONUTRIENTS, INC.
Entity Central Index Key	0001629205
Document Type	10-K
Amendment Flag	false
Entity Voluntary Filers	No
Current Fiscal Year End Date	--08-31
Entity Well Known Seasoned Issuer	No
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Aug. 31, 2019
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		135,509,220
Entity Public Float			$ 1,228,814

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Aug. 31, 2019	Aug. 31, 2018
Current assets:
Cash	$ 18,975	$ 774,468
Accounts receivable		428
Inventory	203,563	53,110
Prepaid expenses	25,611	30,000
Total current assets	248,149	858,006
Other assets
Equipment, net of accumulated depreciation of $2,446 and $529, respectively	6,585	1,937
Trademarks	1,680	2,800
Total other assets	8,265	4,737
Total Assets	256,414	862,743
Current liabilities:
Accounts payable and accrued expenses	84,428	95,287
Derivative liability	39,381	537,889
Note payable, current portion	49,500	49,500
Note payable, convertible net of discount	27,049
Dividends payable	23,695	4,192
Total current liabilities	224,053	686,868
Commitments and contingencies
Stockholders' equity:
Common stock subscribed	160,000	160,000
Preferred stock, $0.001 par value; 25,000,000 shares authorized; 8,480,000 and 8,480,000 issued and outstanding as of August 31, 2019 and August 31, 2018, respectively	8,480	8,480
Common stock, $0.001 par value; 200,000,000 shares authorized; 135,280,651 and 132,637,500 shares issued and outstanding as of August 31, 2019 and August 31, 2018, respectively	135,281	132,638
Additional paid in capital	942,159	867,949
Accumulated deficit	(1,213,559)	(993,192)
Total stockholders' equity	32,361	175,875
Total Liabilities and Stockholders' equity	$ 256,414	$ 862,743

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Aug. 31, 2019	Aug. 31, 2018
Other assets
Accumulated depreciation	$ 2,446	$ 529
Stockholders' equity
Preferred stock, shares par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	8,480,000	8,480,000
Preferred stock, shares outstanding	8,480,000	8,480,000
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	135,280,651	132,637,500
Common stock, shares outstanding	135,280,651	132,637,500

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
CONSOLIDATED STATEMENTS OF OPERATIONS
Revenue	$ 79,246	$ 16,771
Cost of Revenue	129,337	81,025
Gross margin	(50,091)	(64,254)
Operating expenses:
Advertising	94,443	61,812
Consulting fees	69,592	72,349
General and administrative	163,129	103,881
Professional fees	270,837	133,822
Stock compensation expense	18,775
Impairment Expense	1,120
Total operating expenses	617,896	371,864
Net operating income (loss)	(667,987)	(436,118)
Other (income) expense:
Interest expense	587	1,517
Gain on change in fair value of derivative liability for preferred warrants and convertible note	(521,784)	(136,123)
Debt/Equity issuance costs	23,277	674,012
Total Other income (expense)	(497,920)	539,406
Loss before provision for taxes	(170,067)	(975,524)
Provision for income taxes
Net income (loss)	$ (170,067)	$ (975,524)
Basic and diluted income (loss) per share	$ 0	$ (0.01)
Weighted average number of common shares outstanding - basic and diluted	134,300,278	125,158,048

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)	Total	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Common Stock [Member]	Common Stock to be Issued [Member]
Balance, shares at Aug. 31, 2017					62,637,500
Balance, amount at Aug. 31, 2017	$ (13,276)		$ (62,438)	$ (13,476)	$ 62,638
Issuance of common stock for reverse merger, Shares					70,000,000
Issuance of common stock for reverse merger, Amount	(73,040)		(143,040)		$ 70,000
Forgiveness of related party payable	75,907		75,907
Common stock subscribed for cash	160,000					160,000
Dividends on preferred stock accrued	(4,192)			(4,192)
Issuance of preferred stock for cash, Shares		8,480,000
Net Income (Loss)	(975,524)			$ (975,524)
Issuance of preferred stock for cash, Amount	$ 1,006,000	$ 8,480	$ 997,520
Balance, shares at Aug. 31, 2018		8,480,000			132,637,500
Balance, amount at Aug. 31, 2018	$ 175,875	$ 8,480		$ (993,192)	$ 132,638	$ 160,000
Dividends on preferred stock accrued	(50,300)			(50,300)
Net Income (Loss)	(170,067)			$ (170,067)
Stock compensation issued, Shares					450,000
Stock compensation issued, Amount	18,775		18,325		450
Conversion of stock from dividends payables, Amount	$ 58,078		$ 55,885		2,193
Conversion of stock from dividends payables, Shares					$ 2,193,151
Balance, shares at Aug. 31, 2019		8,480,000			135,280,651
Balance, amount at Aug. 31, 2019	$ 32,361	$ 8,480	$ 942,159	$ (1,213,559)	$ 135,281	$ 160,000

Statements of Cash Flow

Statements of Cash Flow - USD ($)	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Cash flows from operating activities
Net income (loss)	$ (170,067)	$ (975,524)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	1,916	530
Debt/stock based issue costs	23,276	674,012
Gain on change in fair value of derivative liability	(521,784)	(136,123)
Penalties assessed on unpaid dividends	27,281
Stock based compensation	18,775
Debt discount interest	49
Impairment expense	1,120
Changes in operating assets and liabilities:
Accounts receivable	428	(428)
Inventory	(150,453)	(53,110)
Prepaid expenses	4,389	(30,000)
Accounts payable and accrued expenses	(10,859)	94,182
Related party payable		(16,101)
Net cash used in operating activities	(775,929)	(442,562)
Cash flows from investing activities:
Purchase of equipment	(6,564)	(2,467)
Net cash used in investing activities	(6,564)	(2,467)
Cash flows from financing activities
Proceeds from notes payable		49,500
Proceeds from convertible notes payable	27,000
Proceeds from common stock subscriptions		160,000
Proceeds from the sale of preferred stock and warrants		1,006,000
Cash contributed in merger		3,972
Net cash provided by financing activities	27,000	1,219,472
Net increase (decrease) in cash	(755,493)	774,443
Cash - beginning of the year	774,468	25
Cash - end of the year	18,975	774,468
Supplemental disclosures:
Interest paid
Income taxes
Non-cash transactions:
Preferred stock dividends declared	50,300	4,192
Discount on convertible note payable	3,000
Accounts payable and accrued expenses assumed in reverse merger		1,105
Forgiveness of related party payable		75,907
Common shares issued in reverse merger at par value		75,907
Trademark costs paid by related party		$ 70,000

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	12 Months Ended
	Aug. 31, 2019
ORGANIZATION AND DESCRIPTION OF BUSINESS
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS	Gridiron BioNutrients, Inc. (the “Company” or “Gridiron”) was formed under the laws of the state of Nevada on July 20, 2017 to develop and distribute a retail line of health water infused with probiotics and minerals. The Company has elected an August 31 st Acquisition and Reverse Merger On October 10, 2017, the Company completed a reverse merger with My Cloudz, Inc. (“My Cloudz”) pursuant to which the Company merged into My Cloudz on October 10, 2017. Under the terms of the merger, the Company shareholders received 70,000,000 common shares of My Cloudz common stock such that the Company shareholders received approximately 57% of the total common shares issued and outstanding following the merger. Due to the nominal assets and limited operations of My Cloudz prior to the merger, the transaction was accorded reverse recapitalization accounting treatment under the provision of Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”) 805 whereby the Company became the accounting acquirer (legal acquiree) and My Cloudz was treated as the accounting acquiree (legal acquirer). The historical financial records of the Company are those of the accounting acquirer (GridIron) adjusted to reflect the legal capital of the accounting acquiree (My Cloudz). As the transaction was treated as a recapitalization, no intangibles, including goodwill, were recognized. Concurrent with the effective date of the reverse recapitalization transaction, the Company adopted the fiscal year end of the accounting acquirer of August 31. At the date of acquisition, My Cloudz had $3,972 of cash, $1,105 of accounts payable and a related party payable of $75,907. Book values for all assets acquired and liabilities assumed equaled fair values as of the date of acquisition.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Aug. 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Basis of Presentation This summary of accounting policies for Gridiron is presented to assist in understanding the Company’s financial statements. The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting) and have been consistently applied in the preparation of the financial statements. 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 as of the date of the financial statements. Actual results could differ from those estimates. Estimates are used when accounting for fair value calculations related to embedded conversion features of outstanding convertible notes payable. Cash For purposes of the statement of cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents to the extent the funds are not being held for investment purposes. The Company had $18,975 and $774,468 of cash and cash equivalents as of August 31, 2019 and 2018. As of August 31, 2018, the Company held cash of $524,468 with one financial institution in excess of the FDIC insured limit of $250,000. Revenue Recognition The Company recognizes revenue under ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” Revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration that an entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company’s performance obligations are transferred to customers at a point in time, typically upon delivery. Fair Value of Financial Instruments Fair value of certain of the Company’s financial instruments including cash, prepaid expenses, accounts payable, accrued expenses, notes payable, and other accrued liabilities approximate cost because of their short maturities. The Company measures and reports fair value in accordance with ASC 820, “Fair Value Measurements and Disclosure” defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles and expands disclosures about fair value investments. Fair value, as defined in ASC 820, is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value of an asset should reflect its highest and best use by market participants, principal (or most advantageous) markets, and an in-use or an in-exchange valuation premise. The fair value of a liability should reflect the risk of nonperformance, which includes, among other things, the Company’s credit risk. Valuation techniques are generally classified into three categories: the market approach; the income approach; and the cost approach. The selection and application of one or more of the techniques may require significant judgment and are primarily dependent upon the characteristics of the asset or liability, and the quality and availability of inputs. Valuation techniques used to measure fair value under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. ASC 820 also provides fair value hierarchy for inputs and resulting measurement as follows: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities. Level 2: 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; and inputs that are derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities; and Level 3: Unobservable inputs for the asset or liability that are supported by little or no market activity, and that are significant to the fair values. Fair value measurements are required to be disclosed by the Level within the fair value hierarchy in which the fair value measurements in their entirety fall. Fair value measurements using significant unobservable inputs (in Level 3 measurements) are subject to expanded disclosure requirements including a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings, and a description of where those gains or losses included in earning are reported in the statement of income. As discussed in Note 9 – Derivative Liability, Derivative Liabilities The Company generally does not use derivative financial instruments to hedge exposures to cash flow or market risks. However, certain other financial instruments, such as warrants and embedded conversion features on the convertible debt, are classified as derivative liabilities due to protection provisions within the agreements. Convertible notes payable are initially recorded at fair value using the Monte Carlo model and subsequently adjusted to fair value at the close of each reporting period. The preferred stock warrants are initially recorded at fair value using the Black Scholes model and subsequently adjusted to fair value at the close of each reporting period. The Company accounts for derivative instruments and debt instruments in accordance with the interpretive guidance of ASC 815, ASU 2017-11, and associated pronouncements related to the classification and measurement of warrants and instruments with conversion features. Income Taxes Income taxes are accounted for under the assets and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Use of net operating loss carry forwards for income tax purposes may be limited by Internal Revenue Code section 382 if a change of ownership occurs. Principals of Consolidation The consolidated financial statements represent the results of Gridiron BioNutrients, Inc, its wholly owned subsidiary, Gridiron Ventures and the assets, processes, and results therefrom. All intercompany transactions and balances have been eliminated. All financial information has been prepared in conformity with accounting principles generally accepted in the United States of America. Property and Equipment Property and equipment are carried at cost. Expenditures for maintenance and repairs are expensed in the period incurred. Renewals and betterments that materially extend the life of the assets are capitalized. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in income for the period. Depreciation is computed for financial statement purposes on a straight-line basis over estimated useful lives of the related assets and the modified accelerated cost recovery system for federal income tax purposes. The estimated useful lives of depreciable assets are: Estimated Useful Lives Computer and other equipment 3 years Vehicle 5 years The Company’s property and equipment consisted of the following as of August 31, 2019 and 2018: August 31, 2019 August 31, 2018 Computer Equipment $ 2,467 $ 2,466 Vehicle 2,977 - Other 3,587 - Accumulated depreciation (2,446 ) (529 ) Net book value $ 6,585 $ 1,937 Depreciation expense for the years ended August 31, 2019 and 2018 was $1,916 and $530, respectively. Inventories Inventories consist of raw materials, packing materials, bottled water and concentrates, capsules, gummy products, drops and other items and are stated at the lower of cost or net realizable value using the first‑in, first‑out method. The Company periodically assesses the recoverability of its inventory and reduces the carrying value of the inventory when items are determined to be obsolete, defective or in excess of forecasted sales requirements. Inventory write‑downs for excess, defective and obsolete inventory are recorded as a cost of revenue. During August 2019, the Company wrote-off $40,136 of expired inventory, The Company did not have any other write downs of inventory during the years ended August 31, 2019 and 2018. Inventory balances were $203,563 and $53,110 as of August 31, 2019 and 2018, respectively. A summary of the Company’s inventory as of August 31, 2019 and 2018 is as follows: Type August 31, 2019 August 31, 2018 Raw Materials $ 19,477 $ 33,010 Packaging Materials 6,558 1,860 Gridrion Water & Concentrates 126,773 10,566 Gridiron Capsules 32,044 1,233 Gummy and Other Products 18,710 6,440 Total Inventory $ 203,563 $ 53,110 Basic Income (Loss) Per Share Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. The conversion of preferred shares, warrants and convertible debt to common shares could potentially bring the number of common shares to a total of approximately 194,000,000. The preferred conversion and warrants would account for approximately 51,394,000 additional shares, the convertible debt would account for approximately 7,096,900 additions shares and an additional 228,571 that have not been issued yet, along with the 135,280,651 outstanding at August 31, 2019. The Company's convertible notes and warrants are excluded from the computation of diluted earnings per share as they are anti-dilutive due to the Company's losses for the years ended August 31, 2019 and 2018. Dividends As discussed in Note 5 – Stockholders Equity (Deficit), Advertising Costs The Company’s policy regarding advertising is to expense advertising when incurred. The Company incurred advertising costs totaling $94,443 and $61,812 during the years ended August 31, 2019 and 2018, respectively. Stock-Based Compensation The Company accounts for share-based compensation in accordance with the fair value recognition provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 718 and No. 505. After December 15, 2018, the scope of Topic 718, Compensation—Stock Compensation, was expanded to include share-based payments issued to nonemployees for goods and services. The Company issues restricted stock to employees and consultants for their services. Cost for these transactions are measured at the fair value of the equity instruments issued at the date of grant. These shares are considered fully vested and the fair market value is recognized as expense in the period granted. The Company recognized consulting expenses and a corresponding increase to additional paid-in-capital related to stock issued for services. For agreements requiring future services, the consulting expense is to be recognized ratably over the requisite service period. There was $18,775 and $-0- of stock-based compensation during the years ended August 31, 2019 and 2018, respectively. Related Parties The registrant follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions. Pursuant to Section 850-10-20 the Related parties include (a) affiliates of the registrant; (b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825–10–15, to be accounted for by the equity method by the investing entity; (c) trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; (d) principal owners of the registrant; (e) management of the registrant; (f) other parties with which the registrant may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and (g) Other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: (a) the nature of the relationship(s) involved; (b) description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; (c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and (d) amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement. Recently Issued Accounting Standards In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, ”Disclosure Update and Simplification,” In June 2018, the FASB issued ASU 2018-07, ”Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting,” In November 2016, the FASB issued ASU 2016-18, ” Statement of Cash Flows (Topic 230): Restricted Cash In October 2016, the FASB issued ASU 2016-16, “ Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory In June 2016, the FASB issued ASU 2016-13, ”Financial Instruments – Credit Losses (Topic 326)” In February 2016, the FASB issued ASU 2016-02, “ Leases (Topic 842 ,” ”Leases In February 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-02, Income Statement Reporting, Comprehensive Income (Topic 220). Effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption of the amendments in this Update is permitted, including adoption in any interim period, (1) for public business entities for reporting periods for which financial statements have not yet been issued and (2) for all other entities for reporting periods for which financial statements have not yet been made available for issuance. The amendments in this Update should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The adoption of this guidance by the Company is not expected to have a material impact on our condensed financial statements and related disclosures. Management believes recently issued accounting pronouncements will have no impact on the financial statements of the Company. Accounts Receivable Accounts receivable balances are established for amounts owed to the Company from its customers from the sale of products. The Company closely monitors the collectability of outstanding accounts receivable and provide an allowance for doubtful accounts based on estimated collections of outstanding amounts. There were $-0- and $428 outstanding accounts receivable as of August 31, 2019 and 2018, respectively. Trademark During the period ended August 31, 2017, a related party incurred total costs of $2,800 to acquire five trademarks on behalf of the Company. Trademark costs are capitalized as incurred to the extent the Company expects the costs incurred to result in a trademark being awarded. The trademarks are deemed to have an indefinite life and are reviewed for impairment loss considerations annually. At August 31, 2019, two of the trademarks for $1,120 were deemed impaired and were written off in the accompanying statement of operations. As of August 31, 2019, and 2018, respectively, the Company had trademarks totaling $1,680 and $2,800, respectively.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Aug. 31, 2019
GOING CONCERN
NOTE 3 - GOING CONCERN	The Company’s financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company had a net loss of $170,067 for the year ended August 31, 2019. The Company has working capital deficit of $24,096 and an accumulated deficit of $1,213,559 as of August 31, 2019. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. The ability of the Company to fully commence its operations is dependent upon, among other things, obtaining additional financing to continue operations, and execution of its business plan. In response to these concerns, management plans to fund operations through additional debt and equity financing. Debt instruments may be convertible or non-convertible and will vary based on the Company’s needs and financing options available at such times. There can be no assurance that management’s plan will be successful.

NOTES PAYABLES

NOTES PAYABLES	12 Months Ended
	Aug. 31, 2019
NOTES PAYABLES
NOTE 4 - NOTES PAYABLES	Short-Term Notes Payable As of August 31, 2019, and 2018, the Company had two notes payable with a principal balance of $49,500, owed to two separate noteholders. Each note payable is unsecured with one bearing interest at 5% and the other at 0% respectively. The Company had an outstanding accrued interest balance of $1,014 and $475 as of August 31, 2019 and 2018, respectively, which has been included in the consolidated balance sheets under accounts payable and accrued expenses. Convertible Notes Payable On August 27, 2019, the Company signed a convertible promissory note with an investor. The $30,000 note was issued with an original issue discount of $3,000 and bears interest at 10% per year. The note principal and interest are convertible into shares of common stock at a 25% discount to the lowest traded price of the Company’s common stock during the 10 prior trading days including the day the notice of conversion is received by the Company. The note matures on February 27, 2020. The note has a prepayment penalty of 110% of the principal and interest outstanding if repaid before 180 days from issuance. After February 27, 2020, the payment premium increases to 125% of the principal and interest outstanding and if in default, the payment premium increases to 140% of the principal and interest outstanding. The original issue discount is amortized through the term of the note. The unpaid balance including accrued interest was $30,033 at August 31, 2019. At August 31, 2019, the outstanding principle balances, net of original issue debt discount of $2,951 was $27,049. The conversion features meets the definition of a derivative liability instrument because the conversion rate is variable and therefore does not meet the “fixed-for-fixed” criteria outlined in ASC 815-40-15. As a result, the conversion features of the notes are recorded as a derivative liability at fair value and marked-to-market each period with the changes in fair value each period charged or credited to other income (expense). See Note 9 - Derivative Liability The Company recorded interest expense on the original issue debt discount of $49 for the year ended August 31, 2019, in the accompanying consolidated statements of operations.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Aug. 31, 2019
RELATED PARTY TRANSACTIONS
NOTE 5 - RELATED PARTY TRANSACTIONS	As at August 31, 2019 and 2018, the Company owed $38,449 and -0-, respectively to its President and Director. The balance due is recorded in accounts payable in the accompanying consolidated balance sheets.

STOCKHOLDERS EQUITY

STOCKHOLDERS EQUITY	12 Months Ended
	Aug. 31, 2019
STOCKHOLDERS EQUITY
NOTE 6 - STOCKHOLDERS EQUITY	Preferred Stock On July 16, 2018, the Board of Directors and one (1) stockholder adopted and approved a resolution to affect an amendment to our Articles of Incorporation to authorize the creation of 5,000,000 shares, designated as our Preferred Stock. On July 16, 2018, the Company filed a Certificate of Amendment to its Articles of Incorporation creating 5,000,000 shares of preferred stock. On July 30, 2018, the Board of Directors of the Company authorized the designation of 9,000,000 shares of Series A Preferred Stock. On July 31, 2018, the Company filed a Certificate of Designation with the Secretary of State of the State of Nevada, creating 9,000,000 shares of Series A Preferred Stock. On August 1, 2018, the Board of Directors and one (1) stockholder adopted and approved a resolution to affect an amendment to our Articles of Incorporation to authorize the creation of 25,000,000 shares, designated as our Preferred Stock. On August 1, 2018, the Company filed a Certificate of Amendment to its Articles of Incorporation creating 25,000,000 shares of preferred stock. The preferred stock accrues dividends at a rate of 5% annually, are convertible to common stock at a rate of $0.125 per share at the option of the holder. Further, the preferred stock is redeemable by the Company at a premium during the first 180 days after issuance and another premium after the 180 th During the year ended August 31, 2018, the Company issued a total of 8,480,000 of preferred stock and 8,480,000 of warrants for total cash proceeds of $1,006,000. There were 8,480,000 preferred shares issued and outstanding as of August 31, 2019 and 2018. Common Stock The Company is authorized to issue up to 200,000,000 shares of $0.001 par value common stock. During the year ended August 31, 2018, the Company issued a total of 70,000,000 restricted shares of the Company’s common stock to complete its acquisition and reverse merger as discussed in Note 1 – Organization and Description of Business On January 30, 2019, the Company entered into a consulting agreement whereby it issued a total of 100,000 restricted shares of the Company’s common stock in exchange for advisory services. The shares were issued on April 5, 2019 and valued at $.0321 per share or $3,210. On February 7, 2019, the Company entered into a consulting agreement whereby it issued a total of 125,000 restricted shares of the Company’s common stock in exchange for business development services. The shares were issued on April 5, 2019 and valued at $.0458 per share or $5,725. On February 7, 2019, the Company entered into a consulting agreement whereby it issued a total of 75,000 restricted shares of the Company’s common stock in exchange for business development services. The shares were issued on April 5, 2019 and valued at $.0458 per share or $3,435. On February 14, 2019, the Company converted accrued interest and preferred dividends penalty totaling $15,370 or $.0337 into 467,043 restricted shares of Company’s common stock. On February 27, 2019, the Company converted accrued interest and preferred dividends penalty totaling $8,884 or $.0294 into 302,586 restricted shares of Company’s common stock. On March 1, 2019, the Company converted accrued interest and preferred dividends penalty totaling $14,470 or $.0294 into 493,001 restricted shares of Company’s common stock. On March 11, 2019, the Company converted accrued interest and preferred dividends penalty totaling $19,355 or $.0208 into 930,521 restricted shares of Company’s common stock. On March 11, 2019, the Company entered into a consulting agreement whereby it issued a total of 150,000 restricted shares of the Company’s common stock in exchange for advisory services. The shares were issued on April 5, 2019 and valued at $.0427 per share or $6,405. There were 135,280,651 and 132,637,500 common shares issued and outstanding as of August 31, 2019 and 2018, respectively. Common Stock Subscribed During the year ended August 31, 2018, the Company accepted four separate common stock subscriptions representing a total of 228,571 common shares for total cash proceeds of $160,000. As of August 31, 2019, the shares have not been issued to the investor.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Aug. 31, 2019
INCOME TAXES
NOTE 7 - INCOME TAXES	The Company’s policy is to provide for deferred income taxes based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates that will be in effect when the differences are expected to reverse. The U.S. Tax Cuts and Jobs Act (TCJA) legislation reduces the U.S. federal corporate income tax rate from 35.0% to 21.0% and is effective June 22, 2018 for the Company. We did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because we have experienced operating losses since inception. When it is more likely than not that a tax asset cannot be realized through future income the Company must allow for this future tax benefit. We provided a full valuation allowance on the net deferred tax asset, consisting of net operating loss carryforwards, because management has determined that it is more likely than not that we will not earn income sufficient to realize the deferred tax assets during the carryforward period. The Company is not aware of any uncertain tax position that, if challenged, would have a material effect on the financial statements for the year ended August 31, 2019 or during the prior three years applicable under FASB ASC 740. We did not recognize any adjustment to the liability for uncertain tax position and therefore did not record any adjustment to the beginning balance of accumulated deficit on the consolidated balance sheet. All tax returns for the Company remain open for examination. The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate to income before provision for income taxes. The sources and tax effects of the differences for the periods presented are as follows: 2019 2018 Income tax provision at the federal statutory rate 21 % 21 % Effect on operating losses (21 %) (21 %) - - The net deferred tax assets consist of the following: August 31, 2019 August 31, 2018 Deferred tax asset $ 254,847 $ 208,570 Valuation allowance (254,847 ) (208,570 ) Net deferred tax asset $ - $ - The change in the valuation allowance for the year ended August 31, 2019 was an increase of $46,277.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Aug. 31, 2019
COMMITMENTS AND CONTINGENCIES
NOTE 8 - COMMITMENTS AND CONTINGENCIES	The Company could become a party to various legal actions arising in the ordinary course of business. Matters that are probable of unfavorable outcomes to the Company and which can be reasonably estimated are accrued. Such accruals are based on information known about the matters, the Company’s estimates of the outcomes of such matters and its experience in contesting, litigating and settling similar matters. As of the date of this report, there are no pending legal proceedings to which the Company is a party or of which any of their property is the subject, nor are there any such proceedings known to be contemplated by governmental authorities. There was a bank account set up during the third quarter of 2019 to work in conjunction with a marketing company in the name of Green Money Enterprises, LLC. The arrangement allowed for merchant services payments to flow to this account and day to day expenses for marketing and consulting services to be accessed and for Green Money Enterprises to access this account per those expenses. In March 2019, the representative from Green Money Enterprises whom had the authority to access the bank account took various withdrawals from the account totaling $19,104. They were not authorized to take this money from the account and have since paid back $6,500 of the original $19,104. The net amount of these is recorded within the general and administrative expenses in the accompanying consolidated statement of operations. The Company is contemplating legal action against Green Money Enterprises for the money not paid back.

DERIVATIVE LIABILITY

DERIVATIVE LIABILITY	12 Months Ended
	Aug. 31, 2019
DERIVATIVE LIABILITY
NOTE 9 - DERIVATIVE LIABILITY	Preferred Stock Warrants As discussed in Note 6 – Stockholders’ Equity The Company analyzed the conversion features of the cashless exercise feature in the warrants issued for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded features should be classified as a derivative liability because the exercise price of these warrants are subject to a variable rate. The Company has determined that warrants are not considered to be solely indexed to the Company’s own stock and is therefore not afforded equity treatment. In accordance with ASC 815, the Company has recorded a derivative liability. Upon issuance, the Company valued the derivative using a Black-Scholes model yielding a total value of $674,012 which was expensed during the year ended August 31, 2018. The Company used the following assumptions upon initial measurement: value per common share of $0.09, a remaining life of 3.0 years, an exercise price of $0.165, a risk-free rate of 2.77% and volatility of 195%. The Company revalued the derivative liability as of August 31, 2019 and recorded a gain of $504,898 on the change in fair value of derivative liabilities for the year then ended. The Company used the following assumptions upon initial measurement: value per common share of $0.0062, a remaining life of 1.92 years, an exercise price of $0.165, a risk-free rate of 1.5% and volatility of 236%. The following table summarizes all stock warrant activity for the twelve months ended August 31, 2019: Warrants Weighted- Average Exercise Price Per Share Outstanding, August 31, 2018 8,480,000 $ 0.165 Granted - - Exercised - - Forfeited - - Expired - - Outstanding, August 31, 2019 8,480,000 $ 0.165 The following table discloses information regarding outstanding and exercisable warrants at August 31, 2019: Outstanding Exercisable Exercise Prices Number of Warrant Shares Weighted Average Exercise Price Weighted Average Remaining Life (Years) Number of Warrant Shares Weighted Average Exercise Price $ 0.165 $ 8,480,000 $ 0.165 1.92 8,480,000 $ 0.165 8,480,000 $ 0.165 1.92 8,480,000 $ 0.165 Convertible Notes Payable As discussed in Note 5 – Notes Payable The Company analyzed the conversion feature and determine it meets the definition of a derivative liability instrument because the conversion rate is variable and therefore does not meet the “fixed-for-fixed” criteria outlined in ASC 815-40-15. As a result, the conversion features of the notes are recorded as a derivative liability at fair value and marked-to-market each period with the changes in fair value each period charged or credited to other income (expense). Upon issuance, the Company valued the derivative using a Monte Carlo simulation model yielding a total value of $50,277 which was expensed during the year ended August 31, 2019. The Company used the following assumptions upon initial measurement: value per common share of $0.0089, a remaining life of 6 months, an exercise price of $0.00423, a risk-free rate of 1.98% and volatility of 287%. In addition, the Company calculated the derivative discount as the difference between the conversion price and the fair market value of the Company’s common stock on the date of issuance. The original issue discount aggregated $27,000, and was recorded as derivative liability in the accompanying consolidated balance sheet. The Company revalued the derivative liability as of August 31, 2019 and recorded a gain of $16,886 on the change in fair value of derivative liabilities for the year then ended. The Company used the following assumptions upon initial measurement: value per common share of $0.0062, a remaining life of 6 months, an exercise price of $0.00423, a risk-free rate of 1.99% and volatility of 297%. Derivative Liability Summary As of August 31, 2019 and 2018, respectively, the Company had derivative liabilities totaling $39,381 and $537,889, respectively, in the accompanying consolidated balance sheet, and gain on change in fair value of the derivative liability of $521,784 and $136,123, respectively, in the accompanying consolidated statement of operations.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Aug. 31, 2019
SUBSEQUENT EVENTS
NOTE 10 - SUBSEQUENT EVENTS	On or about September 4, 2019, the Company signed an initial letter of intent with NanoPeak Performances, LLC with a subsequent addendum for the sale of the majority of its existing inventory as well as the exclusive license to Gridiron intellectual property. As of December 13, 2019, the two parties are still negotiating the terms of the contemplated transaction. On, November 19, 2019, the Company issued 228,571 restricted shares of the Company’s common stock for the four separate common stock subscriptions granted during the year ended August 31, 2018. The stock subscriptions represented total cash proceeds of $160,000, which funded in the year ended December 31, 2018. On November 25, 2019, the Company signed a convertible promissory note with an investor. The $140,000 note was issued with an original issue discount of $14,000 and bears interest at 10% per year. The note principal and interest are convertible into shares of common stock equal to the lower of 5% per share or 35% discount to the lowest traded price of the Company’s common stock during the 10 prior trading days including the day the notice of conversion is received by the Company. The note matures on May 25, 2020. The note has a prepayment penalty of 115% of the principal and interest outstanding if repaid more than 30 days after issuance. If the Company defaults on the note, the payment premium increases to 140% of the principal and interest outstanding. In November 2019, the Company made a strategic decision to expand into the oil extraction business and on or about November 27, 2019, the Company signed a Supply Agreement with a grower to purchase 10,000 pounds of industrial hemp (biomass) and plans on processing the biomass into crude within the next 60 days. The Company anticipates a third party provider will process the biomass and generate 400 liters of crude with minimum 60% total cannabinoids (CBD). The estimated contract price is $100,000. On December 13, 2019, the Company signed a Toll Processing Agreement with a corporation to process industrial hemp (biomass) into the CBD product. The contract is valued at $100,000. The Company has evaluated all events occurring subsequently to these financial statements through December 17, 2019 and determined there were no other items to disclose.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Aug. 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation	This summary of accounting policies for Gridiron is presented to assist in understanding the Company’s financial statements. The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting) and have been consistently applied in the preparation of the financial statements.
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 as of the date of the financial statements. Actual results could differ from those estimates. Estimates are used when accounting for fair value calculations related to embedded conversion features of outstanding convertible notes payable.
Cash	For purposes of the statement of cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents to the extent the funds are not being held for investment purposes. The Company had $18,975 and $774,468 of cash and cash equivalents as of August 31, 2019 and 2018. As of August 31, 2018, the Company held cash of $524,468 with one financial institution in excess of the FDIC insured limit of $250,000.
Revenue Recognition	The Company recognizes revenue under ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” Revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration that an entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company’s performance obligations are transferred to customers at a point in time, typically upon delivery.
Derivative Liabilities	The Company generally does not use derivative financial instruments to hedge exposures to cash flow or market risks. However, certain other financial instruments, such as warrants and embedded conversion features on the convertible debt, are classified as derivative liabilities due to protection provisions within the agreements. Convertible notes payable are initially recorded at fair value using the Monte Carlo model and subsequently adjusted to fair value at the close of each reporting period. The preferred stock warrants are initially recorded at fair value using the Black Scholes model and subsequently adjusted to fair value at the close of each reporting period. The Company accounts for derivative instruments and debt instruments in accordance with the interpretive guidance of ASC 815, ASU 2017-11, and associated pronouncements related to the classification and measurement of warrants and instruments with conversion features.
Income Taxes	Income taxes are accounted for under the assets and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Use of net operating loss carry forwards for income tax purposes may be limited by Internal Revenue Code section 382 if a change of ownership occurs.
Principals of Consolidation	The consolidated financial statements represent the results of Gridiron BioNutrients, Inc, its wholly owned subsidiary, Gridiron Ventures and the assets, processes, and results therefrom. All intercompany transactions and balances have been eliminated. All financial information has been prepared in conformity with accounting principles generally accepted in the United States of America.
Property and Equipment	Property and equipment are carried at cost. Expenditures for maintenance and repairs are expensed in the period incurred. Renewals and betterments that materially extend the life of the assets are capitalized. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in income for the period. Depreciation is computed for financial statement purposes on a straight-line basis over estimated useful lives of the related assets and the modified accelerated cost recovery system for federal income tax purposes. The estimated useful lives of depreciable assets are: Estimated Useful Lives Computer and other equipment 3 years Vehicle 5 years The Company’s property and equipment consisted of the following as of August 31, 2019 and 2018: August 31, 2019 August 31, 2018 Computer Equipment $ 2,467 $ 2,466 Vehicle 2,977 - Other 3,587 - Accumulated depreciation (2,446 ) (529 ) Net book value $ 6,585 $ 1,937 Depreciation expense for the years ended August 31, 2019 and 2018 was $1,916 and $530, respectively.
Inventories	Inventories consist of raw materials, packing materials, bottled water and concentrates, capsules, gummy products, drops and other items and are stated at the lower of cost or net realizable value using the first‑in, first‑out method. The Company periodically assesses the recoverability of its inventory and reduces the carrying value of the inventory when items are determined to be obsolete, defective or in excess of forecasted sales requirements. Inventory write‑downs for excess, defective and obsolete inventory are recorded as a cost of revenue. During August 2019, the Company wrote-off $40,136 of expired inventory, The Company did not have any other write downs of inventory during the years ended August 31, 2019 and 2018. Inventory balances were $203,563 and $53,110 as of August 31, 2019 and 2018, respectively. A summary of the Company’s inventory as of August 31, 2019 and 2018 is as follows: Type August 31, 2019 August 31, 2018 Raw Materials $ 19,477 $ 33,010 Packaging Materials 6,558 1,860 Gridrion Water & Concentrates 126,773 10,566 Gridiron Capsules 32,044 1,233 Gummy and Other Products 18,710 6,440 Total Inventory $ 203,563 $ 53,110
Basic Income (Loss) Per Share	Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. The conversion of preferred shares, warrants and convertible debt to common shares could potentially bring the number of common shares to a total of approximately 194,000,000. The preferred conversion and warrants would account for approximately 51,394,000 additional shares, the convertible debt would account for approximately 7,096,900 additions shares and an additional 228,571 that have not been issued yet, along with the 135,280,651 outstanding at August 31, 2019. The Company's convertible notes and warrants are excluded from the computation of diluted earnings per share as they are anti-dilutive due to the Company's losses for the years ended August 31, 2019 and 2018.
Dividends	As discussed in Note 5 – Stockholders Equity (Deficit),
Advertising Costs	The Company’s policy regarding advertising is to expense advertising when incurred. The Company incurred advertising costs totaling $94,443 and $61,812 during the years ended August 31, 2019 and 2018, respectively.
Stock-Based Compensation	The Company accounts for share-based compensation in accordance with the fair value recognition provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 718 and No. 505. After December 15, 2018, the scope of Topic 718, Compensation—Stock Compensation, was expanded to include share-based payments issued to nonemployees for goods and services. The Company issues restricted stock to employees and consultants for their services. Cost for these transactions are measured at the fair value of the equity instruments issued at the date of grant. These shares are considered fully vested and the fair market value is recognized as expense in the period granted. The Company recognized consulting expenses and a corresponding increase to additional paid-in-capital related to stock issued for services. For agreements requiring future services, the consulting expense is to be recognized ratably over the requisite service period. There was $18,775 and $-0- of stock-based compensation during the years ended August 31, 2019 and 2018, respectively.
Related Parties	The registrant follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions. Pursuant to Section 850-10-20 the Related parties include (a) affiliates of the registrant; (b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825–10–15, to be accounted for by the equity method by the investing entity; (c) trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; (d) principal owners of the registrant; (e) management of the registrant; (f) other parties with which the registrant may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and (g) Other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: (a) the nature of the relationship(s) involved; (b) description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; (c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and (d) amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.
Recently Issued Accounting Standards	In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, ”Disclosure Update and Simplification,” In June 2018, the FASB issued ASU 2018-07, ”Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting,” In November 2016, the FASB issued ASU 2016-18, ” Statement of Cash Flows (Topic 230): Restricted Cash In October 2016, the FASB issued ASU 2016-16, “ Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory In June 2016, the FASB issued ASU 2016-13, ”Financial Instruments – Credit Losses (Topic 326)” In February 2016, the FASB issued ASU 2016-02, “ Leases (Topic 842 ,” ”Leases In February 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-02, Income Statement Reporting, Comprehensive Income (Topic 220). Effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption of the amendments in this Update is permitted, including adoption in any interim period, (1) for public business entities for reporting periods for which financial statements have not yet been issued and (2) for all other entities for reporting periods for which financial statements have not yet been made available for issuance. The amendments in this Update should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The adoption of this guidance by the Company is not expected to have a material impact on our condensed financial statements and related disclosures. Management believes recently issued accounting pronouncements will have no impact on the financial statements of the Company.
Accounts Receivable	Accounts receivable balances are established for amounts owed to the Company from its customers from the sale of products. The Company closely monitors the collectability of outstanding accounts receivable and provide an allowance for doubtful accounts based on estimated collections of outstanding amounts. There were $-0- and $428 outstanding accounts receivable as of August 31, 2019 and 2018, respectively.
Trademark	During the period ended August 31, 2017, a related party incurred total costs of $2,800 to acquire five trademarks on behalf of the Company. Trademark costs are capitalized as incurred to the extent the Company expects the costs incurred to result in a trademark being awarded. The trademarks are deemed to have an indefinite life and are reviewed for impairment loss considerations annually. At August 31,2019, two of the trademarks for $1,120 were deemed impaired and were written off in the accompanying statement of operations. As of August 31, 2019, and 2018, respectively, the Company had trademarks totaling $1,680 and $2,800, respectively.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Aug. 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Property, Plant and Equipment, estimated useful lives	Estimated Useful Lives Computer and other equipment 3 years Vehicle 5 years
Property, Plant and Equipment	August 31, 2019 August 31, 2018 Computer Equipment $ 2,467 $ 2,466 Vehicle 2,977 - Other 3,587 - Accumulated depreciation (2,446 ) (529 ) Net book value $ 6,585 $ 1,937
Schedule of inventories	Type August 31, 2019 August 31, 2018 Raw Materials $ 19,477 $ 33,010 Packaging Materials 6,558 1,860 Gridrion Water & Concentrates 126,773 10,566 Gridiron Capsules 32,044 1,233 Gummy and Other Products 18,710 6,440 Total Inventory $ 203,563 $ 53,110

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Aug. 31, 2019
INCOME TAXES
Federal income tax rate	2019 2018 Income tax provision at the federal statutory rate 21 % 21 % Effect on operating losses (21 %) (21 %) - -
Schedule of deferred tax assets	August 31, 2019 August 31, 2018 Deferred tax asset $ 254,847 $ 208,570 Valuation allowance (254,847 ) (208,570 ) Net deferred tax asset $ - $ -

DERIVATIVE LIABILITY (Tables)

DERIVATIVE LIABILITY (Tables)	12 Months Ended
	Aug. 31, 2019
DERIVATIVE LIABILITY
Summarizes of stock option activity	Warrants Weighted- Average Exercise Price Per Share Outstanding, August 31, 2018 8,480,000 $ 0.165 Granted - - Exercised - - Forfeited - - Expired - - Outstanding, August 31, 2019 8,480,000 $ 0.165
Summarizes of outstanding and exercisable of stock options	Outstanding Exercisable Exercise Prices Number of Warrant Shares Weighted Average Exercise Price Weighted Average Remaining Life (Years) Number of Warrant Shares Weighted Average Exercise Price $ 0.165 $ 8,480,000 $ 0.165 1.92 8,480,000 $ 0.165 8,480,000 $ 0.165 1.92 8,480,000 $ 0.165

ORGANIZATION AND DESCRIPTION _2

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative) - USD ($)	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Oct. 10, 2017
State of incorporation	Nevada
Date of incorporation	Jul. 20, 2017
Cash	$ 18,975	$ 774,468
My Cloudz [Member] | Reverse Merger [Member]
Common stock, shares received			70,000,000
Common shares issued and outstanding, Percentage			57.00%
Cash			$ 3,972
Accounts payable			1,105
Related party payable			$ 75,907

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Aug. 31, 2019
Computer Equipment [Member]
Property and equipment, estimated useful life	3 years
Vehicles [Member]
Property and equipment, estimated useful life	5 years

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($)	Aug. 31, 2019	Aug. 31, 2018
Accumulated depreciation	$ (2,446)	$ (529)
Net book value	6,585	1,937
Computer Equipment [Member]
Property and equipment	2,467	2,466
Vehicles [Member]
Property and equipment	2,977
Other [Member]
Property and equipment	$ 3,587

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($)	Aug. 31, 2019	Aug. 31, 2018
Inventory	$ 203,563	$ 53,110
Raw Materials [Member]
Inventory	19,477	33,010
Packaging Materials [Member]
Inventory	6,558	1,860
Gridrion Water & Concentrates [Member]
Inventory	126,773	10,566
Gridiron Capsules [Member]
Inventory	32,044	1,233
Gummy and Other Products [Member]
Inventory	$ 18,710	$ 6,440

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
FDIC insured limit		$ 250,000
Depreciation expense	$ 1,916	530
Inventory expired	40,136
Inventory	203,563	53,110
Trademarks	1,680	2,800	$ 2,800
Trademark write-off	1,120
Cash	18,975	774,468
Cash, uninsured amount		524,468
Dividends payable	23,695	4,192
Advertising costs	94,443	61,812
Stock based compensation	18,775	0
Accounts receivable		$ 428
Preferred stock, dividend rate, percentage	5.00%
Common stock shares outstanding	135,280,651
Convertible Preferred Stock, Shares Issued upon Conversion	51,394,000
Additional unissued outstanding shares	7,096,900
Amortization expense
Weighted average common shares outstanding	194,000,000

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
GOING CONCERN
Accumulated deficit	$ (1,213,559)	$ (993,192)
Working capital deficit	(24,096)
Net loss	$ (170,067)	$ (975,524)

NOTES PAYABLES (Details Narrati

NOTES PAYABLES (Details Narrative) - USD ($)	1 Months Ended
	Aug. 27, 2019	Aug. 31, 2019	Aug. 31, 2018
NOTES PAYABLES
Notes payable		$ 49,500	$ 49,500
Notes payable description	After February 27, 2020, the payment premium increases to 125% of the principal and interest outstanding and if in default, the payment premium increases to 140% of the principal and interest outstanding.
Notes payable interest		5.00%	0.00%
Accrued interest		$ 1,014	$ 475
Convertible notes payable	$ 30,000
Notes discount	$ 3,000
Notes payable interest rate	10.00%
Discount on conversion into common stock	25.00%
Convertible notes payable maturity date	Feb. 27, 2020
Notes prepayment penelty	110.00%
Unpaid accrued interest		30,033
Outstanding principle balance		$ 27,049

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Aug. 31, 2019	Aug. 31, 2018
President And Director [Member]
Due to related party	$ 38,449	$ 0

STOCKHOLDERS EQUITY (Details Na

STOCKHOLDERS EQUITY (Details Narrative) - USD ($)	Mar. 11, 2019	Feb. 07, 2019	Mar. 01, 2019	Feb. 27, 2019	Feb. 14, 2019	Jan. 30, 2019	Aug. 31, 2019	Aug. 31, 2018	Aug. 01, 2018	Jul. 31, 2018	Jul. 30, 2018	Jul. 16, 2018
Common stock, par value							$ 0.001	$ 0.001
Common stock, shares authorized							200,000,000	200,000,000
Stock issued for aquisation								70,000,000
Cash proceeds from subscriptions of common stock							$ 160,000	$ 160,000
Common stock, shares issued							135,280,651	132,637,500
Common stock, shares outstanding							135,280,651	132,637,500
Preferred Stock shares authorized							25,000,000	25,000,000	25,000,000			5,000,000
Dividends Rate							5.00%
Convertible preferred stock, conversion price							$ 0.125
Number of warrants shares issued								8,480,000
Preferred stock, shares issued							8,480,000	8,480,000
Preferred stock, shares outstanding							8,480,000	8,480,000
Common stock shares subscribed								228,571
Preferred stock, terms of redemption							The preferred stock is redeemable by the Company at a premium during the first 180 days after issuance and premium after the 180th day from issuance
Common stock shares issuable for servicies	150,000	200,000	493,001	302,586	467,043	100,000
Common stock shares issuable par value	$ .0427	$ .0458	$ .0294	$ .0294	$ .0337	$ .0321
Common stock shares issuable value	$ 6,405	$ 9,160				$ 3,210
Accrued interest converted amount	$ 19,355		$ 14,470	$ 8,884	$ 15,370
Shares issuable for conversion of accrued interest	930,521		493,001	302,586	467,043
Issuance of preferred stock for cash								$ 1,006,000
Series A Preferred Stock [Member]
Preferred Stock shares authorized										9,000,000	9,000,000
Consulting Agreement [Member] | On April 5, 2019 [Member]
Common stock shares issuable par value		$ .0458
Common stock shares issuable value		$ 3,435
Restricted shares of common stock		75,000
Consulting Agreement [Member] | On April 5, 2019 [Member]
Common stock shares issuable par value		$ .0458
Common stock shares issuable value		$ 5,725
Restricted shares of common stock		125,000

INCOME TAXES (Details)

INCOME TAXES (Details)	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
INCOME TAXES
Income tax provision at the federal statutory rate	21.00%	21.00%
Effect on operating losses	(21.00%)	(21.00%)

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	Aug. 31, 2019	Aug. 31, 2018
INCOME TAXES
Deferred tax asset	$ 254,847	$ 208,570
Valuation allowance	(254,847)	(208,570)
Net deferred tax asset

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	12 Months Ended
	Aug. 31, 2019USD ($)
INCOME TAXES
Change in valuation allowance	$ 46,277
Income tax description	The U.S. Tax Cuts and Jobs Act (TCJA) legislation reduces the U.S. federal corporate income tax rate from 35.0% to 21.0% and is effective June 22, 2018 for the Company.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Detail Narrative) - Green Money Enterprise [Member]	Aug. 31, 2019USD ($)
Bank withdrawal	$ 19,104
Paid back of money to bank	$ 6,500

DERIVATIVE LIABILITY (Details)

DERIVATIVE LIABILITY (Details) - Warrant [Member]	12 Months Ended
	Aug. 31, 2019$ / sharesshares
Number of warrants/rights, Outstanding, August 31, 2018	8,480,000
Number of warrants/rights, Granted
Number of warrants/rights, Exercised
Number of warrants/rights, Forfeited
Number of warrants/rights, Expired
Number of warrants/rights, Outstanding, August 31, 2019	8,480,000
Weighted Average Exercise Price Per Share, Outstanding, August 31, 2018 | $ / shares	$ 0.165
Weighted Average Exercise Price Per Share, Granted | $ / shares
Weighted Average Exercise Price Per Share, Forfeited | $ / shares
Weighted Average Exercise Price Per Share, Expired | $ / shares
Weighted Average Exercise Price Per Share, Outstanding, August 31, 2019 | $ / shares	$ 0.165

DERIVATIVE LIABILITY (Details 1

DERIVATIVE LIABILITY (Details 1) - Stock option [Member]	12 Months Ended
	Aug. 31, 2019$ / sharesshares
Number of Warrants Shares, Outstanding | shares	8,480,000
Weighted Average Exercise Price, Outstanding | $ / shares	$ 0.165
Weighted average remaining contractual life (Years), Outstanding	1 year 11 months 1 day
Number of Outstanding, Exercisable | shares	8,480,000
Weighted Average Exercise Price, Exercisable | $ / shares	$ 0.165
0.165 [Member]
Number of Warrants Shares, Outstanding | shares	8,480,000
Weighted Average Exercise Price, Outstanding | $ / shares	$ 0.165
Weighted average remaining contractual life (Years), Outstanding	1 year 11 months 1 day
Number of Outstanding, Exercisable | shares	8,480,000
Weighted Average Exercise Price, Exercisable | $ / shares	$ 0.165

DERIVATIVE LIABILITY (Details N

DERIVATIVE LIABILITY (Details Narrative) - USD ($)	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 27, 2019
Convertible notes payable			$ 30,000
Discount on conversion into common stock			25.00%
Gain on change in fair value of derivative liability	$ (521,784)	$ (136,123)
Derivative liability	$ 39,381	537,889
Value per common share	$ 0.125
Debt issue costs	$ (23,276)	(674,012)
Debt/Equity issuance costs	$ 23,277	$ 674,012
Issuance [Member]
Value per common share	$ 0.0089
Expected term (in years)	6 months
Expected volatility rate	287.00%
Debt/Equity issuance costs	$ 50,277
Original issue discount	$ 27,000
Risk-free interest rate	1.98%
Derivative [Member]
Value per common share		$ 0.09
Detachable warrants		8,480,000
Exercisable period		3 years
Debt issue costs		$ 674,012
Expected term (in years)		3 years
Expected volatility rate		195.00%
Exercise price		$ 0.165
Risk-free interest rate		2.77%
Derivative liability 1 [Member]
Gain on change in fair value of derivative liability	$ 16,886
Value per common share	$ 0.0062
Expected term (in years)	6 months
Expected volatility rate	297.00%
Exercise price	$ 0.00423
Risk-free interest rate	1.99%
Derivative liability [Member]
Gain on change in fair value of derivative liability	$ 504,898
Value per common share	$ 0.0062
Expected term (in years)	1 year 2 months 1 day
Expected volatility rate	236.00%
Exercise price	$ 0.165
Risk-free interest rate	1.50%

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	1 Months Ended
	Dec. 13, 2019	Nov. 27, 2019	Nov. 25, 2019	Aug. 27, 2019	Nov. 19, 2019	Aug. 31, 2019	Dec. 31, 2018	Aug. 31, 2018
Maturity date				Feb. 27, 2020
Common stock shares subscribed								228,571
Cash proceeds from subscriptions of common stock						$ 160,000		$ 160,000
Subsequent Event [Member]
Contract price		$ 100,000
Supply agreement with grower to purchase description		The Company signed a Supply Agreement with a grower to purchase 10,000 pounds of industrial hemp (biomass) and plans on processing the biomass into crude within the next 60 days. The Company anticipates a third-party provider will process the biomass and generate 400 liters of crude with minimum 60% total cannabinoids (CBD).
Common stock shares subscribed					228,571
Cash proceeds from subscriptions of common stock							$ 160,000
Subsequent Event [Member] | Toll Processing Agreement [Member]
Contract price	$ 100,000
Subsequent Event [Member] | Investor [Member] | Convertible Promissory Note [Member]
Convertible promissory note issued			140,000
Original issue discount			$ 14,000
Interest rate			10.00%
Debt conversion, description			The note principal and interest are convertible into shares of common stock equal to the lower of 5% per share or 35% discount to the lowest traded price of the Company’s common stock during the 10 prior trading days including the day the notice of conversion is received by the Company.
Maturity date			May 25, 2020
Prepayment penalty of the principal and interest outstanding, description			The note has a prepayment penalty of 115% of the principal and interest outstanding if repaid more than 30 days after issuance.
Principal and interest outstanding, defaults			140.00%