|12 Months Ended|
Aug. 31, 2016
|Subsequent Events [Abstract]|
NOTE 8 - SUBSEQUENT EVENTS
On November 18, 2016, the Company entered into a debt forgiveness agreement whereby a majority shareholder forgave a total of $16,856 owed to them by the Company.
On November 18, 2016, the Company entered into a senior promissory note for the principal amount of $30,000, payable to Malibu Investments Limited. The promissory note accrues interest at 10% per annum and matures on November 18, 2017. If paid prior, it will automatically convert into the next private placement held by Knight Knox Development Corp. In the event of a conversion of the note into the proposed private placement, the full amount of principal, together with any interest accrued through the date of conversion shall be converted into the proposed private placement with a minimum investment of $500,000 at a 30% discount.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
No definition available.