RELATED PARTY TRANSACTIONS |
3 Months Ended |
|---|---|
Nov. 30, 2020 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS |
NOTE 4 - RELATED PARTY TRANSACTIONS
During the three months ended November 30, 2020, the president and an officer of the Company incurred $697 of expenses on behalf of the Company that were not reimbursed. The amount owed to this related party as of November 30, 2020 and August 31, 2020 is $6,552 and $5,855, respectively. The amounts are non-interest bearing and have no terms of repayment.
During the three months ended November 30, 2020, the Senior Vice President, European Operations, who is a major shareholder, incurred $0 of expenses on behalf of the Company. $1,090, including foreign exchange loss of $14 of this amount was repaid during the three months ended November 30, 2020. The amount owed to this related party as of November 30, 2020 and August 31, 2020 is $0 and $1,104, respectively. The amounts are non-interest bearing and have no terms of repayment.
During the three months ended November 30, 2020 and 2019, a company owned by the Senior Vice President, European Operations, who is a major shareholder, provided consulting services worth $15,000 and $19,000, respectively of which, $5,000 was outstanding, as of November 30, 2020 and August 31, 2020. |