RELATED PARTY TRANSACTIONS |
9 Months Ended |
|---|---|
May 31, 2021 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS |
NOTE 4 - RELATED PARTY TRANSACTIONS
During the nine months ended May 31, 2021, the president and an officer of the Company incurred $1,392 of expenses on behalf of the Company and the Company repaid $7,248. The amount owed to this related party as of May 31, 2021 and August 31, 2020 is $0 and $5,855, respectively. The amounts are non-interest bearing and have no terms of repayment.
During the nine months ended May 31, 2021, the Company repaid the Senior Vice President, European Operations, $1,090, including foreign exchange loss of $14. The amount owed to this related party as of May 31, 2021 and August 31, 2020 is $0 and $1,104, respectively. The amounts are non-interest bearing and have no terms of repayment.
During the nine months ended May 31, 2021 and 2020, a company owned by the Senior Vice President, European Operations, provided consulting services worth $45,000 and $49,000, respectively of which, $5,000 was outstanding, as of May 31, 2021 and August 31, 2020.
During the nine months ended May 31, 2021, the Company entered into a leasing arrangement with an entity controlled by a close family member of a director of the Company (Note 7). |