Document and Entity Information
Document and Entity Information - USD ($) | Feb. 28, 2015 | Aug. 31, 2015 | Mar. 30, 2021 |
Details | |||
Registrant CIK | 0001373853 | ||
Fiscal Year End | --08-31 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Aug. 31, 2015 | ||
Document Transition Report | false | ||
Entity File Number | 000-54243 | ||
Entity Registrant Name | NEW AMERICA ENERGY CORP. | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Tax Identification Number | 26-4144571 | ||
Entity Address, Address Line One | 240 Vaughan Drive | ||
Entity Address, City or Town | Alpharetta | ||
Entity Address, State or Province | GA | ||
Entity Address, Postal Zip Code | 30009 | ||
City Area Code | 470 | ||
Local Phone Number | 767-8794 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | No | ||
Entity Interactive Data Current | No | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 26,619,000 | ||
Entity Listing, Par Value Per Share | $ 0.0047 | ||
Entity Common Stock, Shares Outstanding | 5,670,596,576 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2015 | ||
Document Fiscal Period Focus | FY |
Balance Sheets
Balance Sheets - USD ($) | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 |
Current Assets | |||
Cash | $ 1,115 | $ 5,588 | $ 4 |
Loans receivable | 0 | 0 | 0 |
Total current assets | 1,115 | 5,588 | 4 |
Total assets | 1,115 | 5,588 | 4 |
Current liabilities: | |||
Accounts payable | 115,318 | 113,568 | 23,567 |
Accounts payable - related party | 20,681 | 20,681 | 20,681 |
Accrued interest | 83,553 | 42,191 | 20,867 |
Short-term notes | 95,370 | 95,370 | 202,285 |
Convertible note payable | 443,655 | 262,350 | 211,172 |
Derivative liability | 463,374 | 372,139 | 351,352 |
Total current liabilities | 1,221,951 | 906,299 | 829,924 |
Total Liabilities | 1,221,951 | 906,299 | 829,924 |
Shareholders' deficit: | |||
Preferred shares | 0 | 0 | 0 |
Common shares | 500,850 | 500,850 | 53,312 |
Additional paid-in capital | 1,315,194 | 1,315,194 | 1,096,115 |
Accumulated deficit | (3,036,880) | (2,716,755) | (1,979,347) |
Total Stockholders Deficit | (1,220,836) | (900,711) | (829,920) |
Total liabilities and shareholders' deficit | $ 1,115 | $ 5,588 | $ 4 |
Balance Sheets - Parenthetical
Balance Sheets - Parenthetical - USD ($) | Aug. 31, 2015 | Aug. 31, 2014 |
Details | ||
Debt Instrument, Unamortized Discount (Premium), Net | $ 58,694 | $ 83,812 |
Preferred Stock, Shares Outstanding | 51 | 51 |
Common Stock, Shares, Issued | 500,850,385 | 500,850,385 |
Common Stock, Shares, Outstanding | 500,850,385 | 500,850,385 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | ||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |
Details | |||
Revenue | $ 0 | $ 0 | $ 0 |
Cost of sales | 0 | 0 | 0 |
Gross profit | 0 | 0 | 0 |
Operating expenses | |||
General and administrative | 131,173 | 371,283 | 379,224 |
Compensation expense | 0 | 156,349 | 0 |
Total operating expenses | 131,173 | 527,632 | 379,224 |
Loss from operations | (131,173) | (527,632) | (379,224) |
Other income (expense) | |||
Interest expense | (155,958) | (163,819) | (122,910) |
Amortization of debt discounts | (181,306) | (111,179) | (211,172) |
Gain (loss) on conversion of debt | 0 | (186,060) | 0 |
Change in derivative liability | 148,312 | 251,282 | 0 |
Total other income (expense) | (188,952) | (209,776) | (334,082) |
Income (loss) before taxes | (320,125) | (737,408) | (713,306) |
Provision for taxes | 0 | 0 | 0 |
Net Income (loss) | $ (320,125) | $ (737,408) | $ (713,306) |
Statement of Changes in Stockho
Statement of Changes in Stockholder's Equity (Deficit) - USD ($) | Common Stock | Additional Paid-in Capital | Retained Earnings | Total |
Equity Balance at Aug. 31, 2012 | $ 52,692 | $ 1,083,235 | $ (1,266,041) | $ (130,114) |
Equity Balance, Shares at Aug. 31, 2012 | 52,692,133 | |||
Issuance of stock for cash, value | $ 620 | 12,880 | 0 | 13,500 |
Issuance of stock for cash, shares | 620,000 | |||
Issuance of Preferred stock, effect on APIC | $ 0 | 156,349 | 0 | 156,349 |
Net loss | $ 0 | 0 | (713,306) | (713,306) |
Equity Balance, Shares at Aug. 31, 2013 | 53,312,133 | |||
Equity Balance at Aug. 31, 2013 | $ 53,312 | 1,096,115 | (1,979,347) | (829,920) |
Issuance of stock for aquisition, value | $ 50,000 | 55,000 | 0 | 105,000 |
Issuance of stock for aquisition, shares | 50,000,000 | |||
Issuance of stock for debt conversion, value | $ 362,187 | (4,375) | 0 | $ 357,812 |
Issuance of stock for debt conversion, shares issued | 362,187,481 | 362,187,481 | ||
Issuance of stock for services, value | $ 35,351 | 12,105 | 0 | $ 47,456 |
Issuance of stock for services, shares issued | 35,350,771 | |||
Net loss | $ 0 | 0 | (737,408) | (737,408) |
Equity Balance, Shares at Aug. 31, 2014 | 500,850,385 | |||
Equity Balance at Aug. 31, 2014 | $ 500,850 | 1,315,194 | (2,716,755) | (900,711) |
Net loss | $ 0 | 0 | (320,125) | (320,125) |
Equity Balance, Shares at Aug. 31, 2015 | 500,850,385 | |||
Equity Balance at Aug. 31, 2015 | $ 500,850 | $ 1,315,194 | $ (3,036,880) | $ (1,220,836) |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net Income (loss) | $ (320,125) | $ (737,408) | $ (713,306) |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Depreciation | 1,220 | 120 | 0 |
Shares issued for consulting services | 0 | 47,456 | 0 |
Write-off of receivables and fixed assets | 3,405 | 0 | 0 |
Amortization, other | 172,470 | 95,014 | 211,172 |
Gain (loss) on conversion of debt | 0 | 186,060 | 0 |
Noncash stock issuance | 0 | 156,349 | 0 |
Equity issued for purchase of assets | 0 | 105,000 | 0 |
Convertible notes issued for cash | 0 | 0 | 250,000 |
Amortization of financing costs | 0 | 0 | 2,391 |
Change in fair value of derivatives | (134,733) | (243,482) | |
Financing costs | 114,596 | 116,279 | 101,352 |
Change in current assets and liabilities: | |||
Increase (decrease) accounts payable | 1,750 | 104,912 | 14,346 |
Increase (decrease) accounts payable - related | 0 | 0 | 20,681 |
Increase (decrease) accrued interest | 38,829 | 24,521 | 19,167 |
Net cash used in operating activities | (122,847) | (85,803) | (94,197) |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Purchase of furniture and equipment | (3,678) | (3,109) | 0 |
Issuance of loans receivable | (3,240) | 0 | 0 |
Prepayment of loans receivable | 342 | 0 | 0 |
Net cash used by investing activities | (6,576) | (3,109) | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Proceeds from related party debt | 0 | 0 | 2,285 |
Proceeds from sale of common stock | 0 | 0 | 13,500 |
Proceeds from issuance of convertible notes | 124,950 | 94,500 | 0 |
Net cash provided by financing activities | 124,950 | 94,500 | 15,785 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (4,473) | 5,588 | (78,412) |
CASH, BEGINNING BALANCE | 5,588 | 4 | 78,416 |
CASH, ENDING BALANCE | 1,115 | 5,588 | 4 |
Supplemental cash flow information | |||
Interest | 0 | 0 | 0 |
Income taxes | 0 | 0 | 0 |
Supplemental disclosure of non-cash financing activities | |||
Equity issued for purchase of assets | 0 | 105,000 | 0 |
Noncash stock issuance | 0 | 156,349 | 0 |
Common stock issued for conversion of debt, noncash | 0 | 357,812 | 0 |
Shares issued to acquire option on mineral property | $ 0 | $ 0 | $ 200,000 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Aug. 31, 2015 | |
Notes | |
Summary of Significant Accounting Policies | NOTE 1 - SUMMARY OF ACCOUNTING POLICIES Nature of Business New America Energy Corp (formerly “Atheron, Inc.”) was incorporated in Nevada on May 8, 2006 as a development stage company, initially developing a technology for ethanol-methanol gasoline. The Company did not progress the development of this technology. On November 5, 2010, we underwent a change of control and the Company’s newly appointed sole director and majority shareholder approved a name change to New America Energy Corp. and a twenty-five (25) new for one (1) old forward stock split of the Company’s issued and outstanding shares of common stock, such that its issued and outstanding shares of common stock increased from 2,150,000 to 53,750,000. On November 16, 2010, the Nevada Secretary of State accepted for filing of the Certificate of Amendment to the Company’s Articles of Incorporation to change our name from Atheron Inc. to New America Energy Corp. The forward stock split and name change has become effective with the Over-the-Counter Bulletin Board at the opening of trading on December 1, 2010 under the Company’s new symbol “NECA”. Our new CUSIP number is 641872 106. The effect of the stock split has been recognized retroactively in the stockholders’ equity accounts as of May 8, 2006, the date of our inception, and in all shares and per share data in the financial statements. On February 3, 2011 we entered into property acquisition agreements with First Liberty Power Corp. (“FLPC”), and GeoXplor Inc. (“GeoXplor”). Pursuant to the terms of the agreements, we acquired an option, as well as exploration rights, in certain unpatented mining claims located in Southern Utah which we refer to the “Uravan Property”. On May 31, 2011, we amended the agreement to extend the payment date for an additional 120 days. The Company did not pay the required option payments under the agreements and the property was lost on September 30, 2011. On May 31, 2011, we entered into a property acquisition agreement with GeoXplor Corp. Pursuant to the terms of the agreement. Pursuant to the terms of the agreement, we acquired an option, as well as exploration rights, in certain unpatented mining claims located in Clayton Valley, Nye County, Nevada. Subsequently on October 27, 2011, we entered into an amended property acquisition agreement whereby we acquired additional claims. Further on June 20, 2012, we entered into an amended property acquisition agreement which amended and replaced the May 31, 2011 agreement and the October 27, 2011 agreement. Under the amended agreement we amended and extended the terms for payments to GeoXplor Corp. in exchange for the issuance of additional shares. On May 24, 2013, the Company received a letter of default from GeoXplor which give the Company 30 days to cure such default or the property rights will terminate and the Company will have no further rights or interest in or to the property. On June 26, 2012, the board of directors of the Company and certain shareholders hold majority voting rights approved the increase of our authorized capital from 75,000,000 to 800,000,000 shares of common stock. On November 14, 2012, the Company filed the articles of amendment with the State of Nevada to effect the increase in authorized share capital. On September 17, 2013, the Company made a decision to change its business model and decided to enter the short term loan business. In order to do this, the company acquired Title King LLC (“Title King”), a 100% owned subsidiary. Title King provides short-term high interest loans to consumers through the collateral use of car and truck titles. Title King operates n the alternative financial services industry, providing automobile title loans to consumers who their own vehicle free and clear and need convenient and simple access to funds. On September 27, 2013, the company issued to its Chie Executive Officer a Series A Preferred, which guarantees him majority voting rights. The Company currently has no interest in the mining and natural resources sector and does not anticipate returning to this sector. NEW AMERICA ENERGY CORP. (AN EXPLORATION STAGE COMPANY) NOTES TO THE FINANCIAL STATEMENTS AUGUST 31, 2015 NOTE 1 - SUMMARY OF ACCOUNTING POLICIES (continued) The Company made the following changes in its authorized shares with the Nevada Secretary of State as follows: Date Prior authorized shares New authorized shares Change 2/3/16 800,000,000 1,900,000,000 1,100,000,000 9/29/16 1,900,000,000 3,900,000,000 2,000,000,000 12/15/16 3,900,000,000 2,900,000,000 (1,000,000,000) 9/4/17 2,900,000,000 4,900,000,000 2,000,000,000 4/8/20 4,900,000,000 7,000,000,000 2,100,000,000 Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents We consider all highly liquid investments with maturities of three months or less to be cash equivalents. As of August 31, 2015, 2014 and 2013, the Company had $1,115, $5,588 and $4 in cash and cash equivalents. Fair Value of Financial Instruments New America Energy Corp’s financial instruments consist of cash and cash equivalents, deferred financing costs, accounts payable and accrued expenses, accrued interest and loans payable. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. Income Taxes The Company accounts for income taxes in accordance with ASC Topic 740, “Income Taxes.” ASC 740 requires a company to use the asset and liability method of accounting for income taxes, whereby deferred tax assets are recognized for deductible temporary differences, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion, or all of, the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Under ASC 740, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The adoption had no effect on the Company’s consolidated financial statements. NEW AMERICA ENERGY CORP. (AN EXPLORATION STAGE COMPANY) NOTES TO THE FINANCIAL STATEMENTS AUGUST 31, 2015 NOTE 1 - SUMMARY OF ACCOUNTING POLICIES (continued) Basic Loss Per Share Earnings per share is calculated in accordance with ASC Topic 260, “Earnings Per Share.” Basic earnings per share (“EPS”) is based on the weighted average number of common shares outstanding. Diluted EPS is based on the assumption that all dilutive convertible shares and stock warrants were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. There are no potentially dilutive securities outstanding during any periods presented. Recent Accounting Pronouncements In June 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-10 (ASU 2014-10), Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation. ASU 2014-10 eliminates the requirement to present inception-to-date information about income statement line items, cash flows, and equity transactions, and clarifies how entities should disclosure the risks and uncertainties related to their activities. ASU 2014-10 also eliminates an exception provided to development stage entities in Consolidations (ASC Topic 810) for determining whether an entity is a variable interest entity on the basis of the amount of investment equity that is at risk. The presentation and disclosure requirements in Topic 915 will no longer be required for interim and annual reporting periods beginning after December 15, 2014, and the revised consolidation standards will take effect in annual periods beginning after December 15, 2015. Early adoption is permitted. The Company will adopt the provisions of ASU 2014-10 effective for its financial statements for the period ended August 31, 2014, and will no longer present the inception-to-date information formally required. The Company does not expect the adoption of any other recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow. |
Liquidity and Going Concern, di
Liquidity and Going Concern, disclosure | 12 Months Ended |
Aug. 31, 2015 | |
Notes | |
Liquidity and Going Concern, disclosure | NOTE 2 - LIQUIDITY AND GOING CONCERN We have negative working capital, and have incurred losses since inception, and have not yet generated meaningful revenues. These factors create substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company generating cash from the sale of its common stock and/or obtaining debt financing and attaining future profitable operations. Management’s plans include selling its equity securities and obtaining debt financing to fund its capital requirement and ongoing operations; however, there can be no assurance the Company will be successful in these efforts. |
Commitments and Contingencies D
Commitments and Contingencies Disclosure | 12 Months Ended |
Aug. 31, 2015 | |
Notes | |
Commitments and Contingencies Disclosure | NOTE 3 - COMMITMENTS AND CONTINGENCIES On January 18, 2015, the Company entered into an agreement with Midsouth Capital Inc. (“Midsouth”), whereby Midsouth was to seek financing for the Company. Midsouth introduced the Company to Fairhills Capital. Midsouth will receive certain commissions for the financings with Fairhills Capital pursuant to an agreement whereby Midsouth is the Company’s non-exclusive financial advisor, investment banker and placement agent for the purpose of assisting the Company to raise capital. Pursuant to the Midsouth Agreement, the Company agreed to: (i) issuance of 80,000 shares of the Company’s common stock; (ii) a success fee of 10% of the amount for any capital raised; (iii) 150,000 restricted shares, with piggy back registration rights, of the Company’s common stock per $1,000,000 of capital raised for a period of two years. NEW AMERICA ENERGY CORP. (AN EXPLORATION STAGE COMPANY) NOTES TO THE FINANCIAL STATEMENTS AUGUST 31, 2015 NOTE 3 - COMMITMENTS AND CONTINGENCIES (continued) Pursuant to our agreement with Midsouth we have issued Midsouth 80,000 shares of our common stock, and paid them a stock fee of 30,000 additional shares of our common stock and a cash fee of $20,000 based on 10% of the initial $200,000 funded by Fairhills. The Company recorded the amount of $32,100 as professional fees based on the market value of the common stock on the date of execution of the Midsouth Agreement. The amount of $20,000 was recorded as deferred financing costs which were amortized for the period as financing expenses. During the year ended August 31, 2013, we paid $1,500 to Midsouth in regard to draw down of $15,000 pursuant to the financing agreement described below in Note 6, which amount was recorded as additional paid in capital. |
Related Party Transactions Disc
Related Party Transactions Disclosure | 12 Months Ended |
Aug. 31, 2015 | |
Notes | |
Related Party Transactions Disclosure | NOTE 4 - RELATED PARTY TRANSACTIONS Issuance of Common Shares and Rescission On October 1, 2013, the Company issued 50,000,000 shares of common stock to Jeffrey Canouse, our chief Executive Officer, for the contribution of the assets of Title King LLC. On March 4, 2016, Mr. Canouse returned all of these shares to treasury. Issuance of Preferred Stock On September 27, 2013, the Company issued to Mr. Canouse 51 shares of Series A Preferred stock. The Preferred stock is convertible into shares of common stock on a one for one basis. However, for voting rights purposes, they have super-voting rights and are convertible into voting shares of common stock that would comprise 51% of the total outstanding common stock taking into account the conversion. As of August 31, 2015, they would give the holder the right to vote 521,293,258 shares given the common shares outstanding of 500,850,385 as of August 31, 2015. |
Short-term Debt Disclosure
Short-term Debt Disclosure | 12 Months Ended |
Aug. 31, 2015 | |
Notes | |
Short-term Debt Disclosure | NOTE 5- SHORT TERM DEBT On March 28, 2012, we entered into a debt instrument with Fairhills whereby Fairhills provided us with a $200,000 loan which was due by September 28, 2012, and carries a 2% annual rate of interest. During the year ended, $107,700 of debt was sold by Fairhills to various entities. The balance of short-term debt is as follows: Date Event Amount Balance 3/28/12 Issuance of debt $ 200,000 $ 200,000 8/31/13 Accrual of interest 2,580 202,580 9/22/13 Sale of debt (50,000) 152,580 12/11/13 Sale of debt (25,000) 127,580 4/15/14 Sale of debt (25,000) 102,580 4/15/14 Sale of debt (7,700) 94,880 8/31/14 Accrual of interest 490 95,370 Balances of short term debt: For the period ended August 31, 2015 2014 2013 $ 95,370 $ 95,370 $202,285 |
Convertible Debt Disclosure
Convertible Debt Disclosure | 12 Months Ended |
Aug. 31, 2015 | |
Notes | |
Convertible Debt Disclosure | NOTE 6 - CONVERTIBLE NOTES, NET OF DISCOUNT The Company has the following levels of debt: 2015 2014 2013 Convertible notes $ 502,349 $ 346,162 $ 250,000 Discount 58,694 83,812 38,828 Convertible notes, Net of discount $ 443,655 $ 262,350 $ 211,172 Following is a list of balances by note As of August 31, 2015: Date Maturity Remaining Issuer Issued Date Amount Discount Book value Jahoco LLC 2-Dec-12 28-Mar-13 $80,000 $ - $80,000 Machiavelli LTD, LLC 2-Dec-12 4-Dec-13 113,000 - 113,000 War Chest Capital Multi-Strategy Fund LLC 3-Oct-13 3-Apr-14 12,000 - 12,000 Filer Support Services 31-Oct-13 31-Aug-14 14,912 - 14,912 Tarpon Bay Partners (consulting note) 7-Jan-14 7-Jan-15 25,000 - 25,000 Machiavelli LTD, LLC 26-Feb-14 26-Feb-15 12,500 - 12,500 Jeff M. Canouse 7-Mar-14 7-Mar-15 1,250 - 1,250 Machiavelli LTD, LLC 20-Mar-14 20-Mar-15 6,250 - 6,250 Jahoco LLC 17-Apr-14 17-Apr-15 6,250 - 6,250 Machiavelli LTD, LLC 24-Apr-14 24-Apr-15 6,250 - 6,250 Machiavelli LTD, LLC 14-May-14 14-May-15 6,250 - 6,250 Machiavelli LTD, LLC 29-May-14 29-May-15 12,500 - 12,500 Jahoco LLC 4-Jun-14 4-Jun-15 18,750 - 18,750 Machiavelli LTD, LLC 21-Jul-14 21-Jul-15 12,500 - 12,500 Carpathia, LLC 5-Aug-14 5-Aug-15 12,500 - 12,500 Jahoco LLC 28-Aug-14 28-Aug-15 6,250 - 6,250 JP Carey Irrevocable Trust 24-Sep-14 24-Sep-15 15,625 1,027 14,598 JP Carey Irrevocable Trust 28-Oct-14 28-Oct-15 12,500 1,986 10,514 Marisol Malave & Julio Perieira 31-Oct-14 31-Oct-15 31,250 5,223 26,027 Marisol Malave & Julio Perieira 31-Oct-14 31-Oct-15 31,250 5,223 26,027 JP Carey Irrevocable Trust 26-Feb-15 26-Feb-16 9,375 4,598 4,777 Anvil Financial Management LLC 27-Mar-15 27-Mar-16 12,500 7,138 5,362 Anvil Financial Management LLC 23-Apr-15 23-Apr-16 10,000 6,448 3,552 Anvil Financial Management LLC 13-May-15 13-May-16 6,250 4,372 1,878 Anvil Financial Management LLC 14-May-15 14-May-16 8,750 6,144 2,606 JP Carey Irrevocable Trust 16-Jun-15 16-Jun-16 4,125 3,268 857 Jeff M. Canouse 6-Jul-15 6-Jul-16 2,625 2,223 402 Machiavelli LTD, LLC 14-Jul-15 14-Jul-16 1,250 1,086 164 JP Carey Irrevocable Trust 6-Aug-15 6-Aug-16 10,688 9,957 730 $502,349 $58,694 $443,655 NEW AMERICA ENERGY CORP. (AN EXPLORATION STAGE COMPANY) NOTES TO THE FINANCIAL STATEMENTS AUGUST 31, 2015 NOTE 6 - CONVERTIBLE NOTES, NET OF DISCOUNT (continued) As of August 31, 2014 Date Maturity Remaining Issuer Issued Date Amount Discount Book value Jahoco LLC 2-Dec-12 28-Mar-13 $80,000 $- $80,000 Machiavelli LTD, LLC 2-Dec-12 4-Dec-13 113,000 - 113,000 War Chest Capital Multi-Strategy Fund LLC 3-Oct-13 3-Apr-14 12,000 - 12,000 Filer Support Services 31-Oct-13 31-Aug-14 14,912 - 14,912 Tarpon Bay Partners 7-Jan-14 7-Jan-15 25,000 8,836 16,164 Machiavelli LTD, LLC 26-Feb-14 26-Feb-15 12,500 6,130 6,370 Jeff M. Canouse 7-Mar-14 7-Mar-15 1,250 644 606 Machiavelli LTD, LLC 20-Mar-14 20-Mar-15 6,250 3,442 2,808 Jahoco LLC 17-Apr-14 17-Apr-15 6,250 3,921 2,329 Machiavelli LTD, LLC 24-Apr-14 24-Apr-15 6,250 4,041 2,209 Machiavelli LTD, LLC 14-May-14 14-May-15 6,250 4,384 1,866 Machiavelli LTD, LLC 29-May-14 29-May-15 12,500 9,281 3,219 Jahoco LLC 4-Jun-14 4-Jun-15 18,750 14,229 4,521 Machiavelli LTD, LLC 21-Jul-14 21-Jul-15 12,500 11,096 1,404 Carpathia, LLC 5-Aug-14 5-Aug-15 12,500 11,610 890 Jahoco LLC 28-Aug-14 28-Aug-15 6,250 6,199 51 $346,162 $83,812 $262,350 As of August 13, 2013 Date Maturity Remaining Issuer Issued Date Amount Discount Book value Jahoco LLC 02-Dec-12 28-Mar-13 $100,000 $- $100,000 Machiavelli LTD, LLC 02-Dec-12 04-Dec-13 150,000 38,828 111,172 $250,000 $38,828 $211,172 |
Stockholders' Equity Note Discl
Stockholders' Equity Note Disclosure | 12 Months Ended |
Aug. 31, 2015 | |
Notes | |
Stockholders' Equity Note Disclosure | NOTE 7 - CAPITAL STOCK Common stock On October 1, 2012, the Company drew down $15,000 pursuant to the financing agreement described above in Note 6, and issued a total of 620,000 shares of common stock of the Company at a price of $0.02419 per share. On September 17, 2013, the Company issued 50,000,000 shares of common stock to Jeffrey Canouse, our Chief Executive, for the purchase of Title King. On November 5, 2013, the Company issued 3,000,000 shares of common stock to Ludlow Capital for consulting services. On April 2, 2014, the Company issued 32,350,771 shares of common stock to Mr. Rock Walchuk, its former Chief Executive in order to make good on prior obligations. NEW AMERICA ENERGY CORP. (AN EXPLORATION STAGE COMPANY) NOTES TO THE FINANCIAL STATEMENTS AUGUST 31, 2015 NOTE 7 - CAPITAL STOCK (continued) The Company also issued the following shares for conversions of debt during the three year period ended August 31, 2015: Date of conversion Converter Amount of conversion Shares issued 9/10/13 Southridge Partners II LP $3,000 1,500,000 9/20/13 Southridge Partners II LP 6,594 5,274,959 10/1/13 Southridge Partners II LP 5,276 5,276,044 10/10/13 Southridge Partners II LP 11,415 11,415,137 10/24/13 War Chest Capital 3,000 6,000,000 10/29/13 Machiavelli Ltd 7,700 7,700,000 10/29/13 Jahoco LLC 10,000 10,000,000 10/31/13 Southridge Partners II LP 6,279 11,416,391 11/13/13 Southridge Partners II LP 7,916 14,392,364 12/2/13 Southridge Partners II LP 7,030 10,043,386 12/10/13 Southridge Partners II LP 7,229 14,752,980 12/20/13 ASC Recap LLC 9,090 23,000,000 1/7/14 ASC Recap LLC 6,057 20,199,244 1/7/14 Machiavelli Ltd 10,800 20,000,000 1/23/14 ASC Recap LLC 5,048 20,191,320 1/28/14 Machiavelli Ltd 10,000 30,000,000 2/3/14 ASC Recap LLC 4,904 19,615,400 2/6/14 Jahoco LLC 10,000 30,000,000 2/26/14 Machiavelli Ltd 16,200 30,000,000 5/6/14 ASC Recap LLC 13,657 39,027,089 4/16/18 ASC Recap LLC 10,558 35,193,467 Totals $171,753 362,187,481 Preferred stock On September 28, 2013, the Company issued 51 shares of No par Series A Preferred stock to Jeffrey Canouse, our Chief Executive. The shares are convertible into one share of our existing common stock. However, for voting purposes, they are convertible into 51% of the outstanding common stock at any time. For purposes of valuing the Preferred stock, the Company used the prevailing stock price at the time and multiplied that amount by the number of shares that would be issued to Mr. Canouse had there been a conversion of these shares. The total amount attributed to expense was $156,349 and has been recorded separately on the face of the Statement of Operations. |
Income Tax Disclosure
Income Tax Disclosure | 12 Months Ended |
Aug. 31, 2015 | |
Notes | |
Income Tax Disclosure | NOTE 8 - INCOME TAXES The Company provides for income taxes under FASB ASC 740, Accounting for Income Taxes. FASB ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect currently. NEW AMERICA ENERGY CORP. (AN EXPLORATION STAGE COMPANY) NOTES TO THE FINANCIAL STATEMENTS AUGUST 31, 2015 NOTE 8 - INCOME TAXES (continued) FASB ASC 740 requires the reduction of deferred tax assets by a valuation allowance, if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. In the Company’s opinion, it is uncertain whether they will generate sufficient taxable income in the future to fully utilize the net deferred tax asset. Accordingly, a valuation allowance equal to the deferred tax asset has been recorded. The total gross deferred tax asset at August 31, 2013 is $476,583, which is calculated by multiplying a 34% estimated tax rate by the cumulative net operating loss (NOL). Changes in the gross deferred tax asset for the past two fiscal years is as follows: For the period ended August 31, 2015 2014 2013 Book loss for the year $ (314,769) $ (629,419) $ (713,306) Adjustments $ 32,994 $ 202,306 $ 211,172 Tax loss for the year $ (281,775) $ (427,113) $ (502,134) Estimated effective tax rate 34% 34% 34% Deferred tax asset $ 95,804 $ 145,218 $ 170,725 The total valuation allowance at August 31, 2015 is $476,583. Details of changes in the valuation allowance for the last three periods are as follows: For the period ended August 31, 2015 2014 2013 Deferred tax asset $ 95,804 $ 145,218 $ 170,725 Valuation allowance (95,804) (145,218) (170,725 Current taxes payable - - - Income tax expense $ - $ - $ - Below is a chart showing the estimated corporate federal net operating loss (NOL) and the year in which it will expire. The total NOL carryforward as of August 31, 2015 was $1,401,716 as itemized below: Year Amount ($) Expiration 2006 43,985 2026 2007 25,000 2027 2008 9,000 2028 2009 10,000 2029 2010 10,842 2030 2011 692,217 2031 2012 474,997 2032 2013 170,725 2033 2014 145,218 2034 2015 95,804 2035 1,677,788 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Aug. 31, 2015 | |
Notes | |
Subsequent Events | NOTE 9 - SUBSEQUENT EVENTS Changes in authorized shares of Common stock The Company made the following changes in its authorized shares with the Nevada Secretary of State as follows: Date Prior authorized shares New authorized shares Change 2/3/16 800,000,000 1,900,000,000 1,100,000,000 9/29/16 1,900,000,000 3,900,000,000 2,000,000,000 12/15/16 3,900,000,000 2,900,000,000 (1,000,000,000) 9/4/17 2,900,000,000 4,900,000,000 2,000,000,000 4/8/20 4,900,000,000 7,000,000,000 2,100,000,000 Issuance of common stock Since the balance sheet date, the Company has issued 5,169,746,231 shares of common stock as follows: Conversion of debt 4,440,383,154 Liabilities Purchase Agreement 822,573,000 Rescission of debt conversion (30,000,000) Return to treasury of Officer shares (63,209,923) Total shares issued 5,169,746,231 Shares outstanding at August 31, 2015 500,850,385 Shares issued 5,169,644,561 Total shares outstanding at 5,670,596,576 Conversion of debt Date of conversion Converter Amount of conversion ($) Shares issued 10/28/15 Machiavelli Ltd 2,700 45,000,000 11/10/15 Machiavelli Ltd 2,700 45,000,000 2/10/16 Beaufort Capital Partners 6,200 62,000,000 11/10/15 Machiavelli Ltd 8,000 66,666,667 2/26/16 Beaufort Capital Partners 2,300 23,000,000 3/21/16 Beaufort Capital Partners 3,375 67,500,000 4/1/16 World Market Ventures 4,020 67,000,000 4/4/16 Beaufort Capital Partners 3,725 74,500,000 4/11/16 Beaufort Capital Partners 2,900 58,000,000 4/11/16 Machiavelli Ltd 4,200 70,000,000 4/1/16 World Market Ventures 5,700 95,000,000 5/6/16 World Market Ventures 3,207 53,450,333 5/27/16 Machiavelli Ltd 6,600 110,000,000 6/9/16 V2IP, Inc. 4,200 111,000,000 7/1/16 Machiavelli Ltd 5,700 130,000,000 8/24/16 Jahoco Ltd. 3,207 130,000,000 8/29/16 Integrated Business Alliance, Inc. 6,600 111,000,000 NEW AMERICA ENERGY CORP. (AN EXPLORATION STAGE COMPANY) NOTES TO THE FINANCIAL STATEMENTS AUGUST 31, 2015 NOTE 9 - SUBSEQUENT EVENTS (continued) Date of conversion Converter Amount of conversion ($) Shares issued 10/4/16 World Market Ventures 4,650 155,000,000 10/31/16 Machiavelli Ltd. 2,000 100,000,000 12/20/16 Machiavelli Ltd. 35,100 195,000,000 12/20/16 World Market Ventures 6,250 95,525,000 3/3/17 Machiavelli Ltd. 26,400 220,000,000 6/30/17 Machiavelli Ltd 14,350 239,166,667 9/20/17 JGP Consulting 8,000 160,000,000 10/3/17 Tarpon Bay Partners LLC 10,000 200,000,000 11/17/17 Tarpon Bay Partners LLC 24,219 267,173,000 3/7/18 World Market Ventures 16,494 274,906,849 3/27/18 World Market Ventures 8,299 138,316,500 4/16/18 World Market Ventures 16,450 137,083,583 12/30/20 Oscaleta Partners LLC 19,623 425,365,800 12/30/20 Livingston Asset Management LLC 2,234 44,680,800 12/30/20 Carpathia LLC 28,143 469,047,945 Totals 265,689 3,970,336,544 Liabilities Purchase Agreement As of the Balance sheet date, the Company has issued 822,573,000 shares as follows: Date of issuance Shares 4-9-18 386,329,000 4-1-20 436,244,000 Total 822,573,000 See Institution of Liabilities Purchase Agreement below for details. Rescission of debt conversion On June 23, 2016, Machiavelli Ltd. issued a rescission for a conversion of $16,200 of debt which resulted in the issuance of 30,000,000 shares of common stock. The original conversion occurred on February 26, 2014. There was difficulty with share issuance and as such the conversion was rescinded. Return to treasury of Officer shares On March 14, 2016, Jeffrey Canouse, Chief Executive Officer of the Company, returned 63,209,923 shares to Treasury. This was done as a result of the issuance of the Series A Preferred Stock to Mr. Canouse, which gave him voting control. NEW AMERICA ENERGY CORP. (AN EXPLORATION STAGE COMPANY) NOTES TO THE FINANCIAL STATEMENTS AUGUST 31, 2015 NOTE 9 - SUBSEQUENT EVENTS (continued) Institution of Liabilities Purchase Agreement On March 13, 2018, New America Energy Corp., a Nevada Corporation (the “Company”) entered into a Settlement Agreement (the “Settlement Agreement”) with Livingston Asset Management LLC, a Florida limited liability company (“LAM”), pursuant to which the Company agreed to issue certain common stock to LAM, in tranches, as necessary, in exchange for the settlement of certain past-due obligations and accounts payable of the Company acquired by LAM (the “LAM Assigned Accounts”). Such past-due obligations and accounts payable contained in the Settlement Amount covers approximately $785,000 in Company obligations as reported in the Company’s most recent quarterly financial report dated February 28, 2018, which LAM has settled with the Company’s creditors. On April 2, 2018, the Circuit Court of Baltimore County, Maryland (the “Court”), entered an Order Granting Approval Of Settlement Agreement And Stipulation (the “LAM Order”) approving, among other things, the fairness of the terms and conditions of an exchange of the Company’s common stock to settle the LAM Acquired Accounts, pursuant to Section 3(a)(10) of the Securities Act of 1933, as amended (the “Securities Act”), in the matter entitled Livingston Asset Management LLC v. New America Energy Corp. (the “LAM Action”). The LAM Order provides for the full and final settlement of the LAM Action. The Settlement Agreement became effective and binding upon the Company and LAM upon execution of the LAM Order by the Court on April 2, 2018. Pursuant to the terms of the Settlement Agreement approved by the LAM Order, the Company agreed to issue to LAM shares (the “LAM Settlement Shares”) of the Company’s common stock, $0.00001 par value (the “Common Stock”) at a forty five percent (45%) discount to market. The Settlement Agreement provides that the LAM Settlement Shares will be issued in one or more tranches, as necessary, sufficient to satisfy the LAM Settlement Agreement through the issuance of freely trading securities, exempt from registration, issued pursuant to Section 3(a)(10) of the Securities Act. Issuance of debt The following page details the issuance of convertible debt (including original issue discount) of $746,165 from September 1, 2016 through the date of this report: Issuance Maturity Services Cash Original Issue Total Investor Date Date Provided Amount Discount Note Machiavelli LTD, LLC 17-Oct-17 17-Oct-18 6,000 1,500 7,500 JPC Enterprises 15-Nov-17 14-May-18 3,000 1,500 4,500 Oscaleta Partners LLC 17-Nov-17 03-May-18 15,000 - 15,000 JPC Enterprises 14-Dec-17 14-Jun-18 7,000 1,750 8,750 JPC Enterprises 05-Jan-18 05-Jul-18 3,350 - 3,350 JPC Enterprises 10-Jan-18 10-Jul-18 10,000 2,500 12,500 JPC Enterprises 06-Feb-18 06-Aug-18 10,000 2,500 12,500 JPC Enterprises 12-Feb-18 12-Aug-18 25,000 - 25,000 JPC Enterprises 09-Mar-18 09-Sep-18 10,000 2,500 12,500 JPC Enterprises 09-Apr-18 09-Oct-18 8,000 2,000 10,000 JPC Enterprises 07-May-18 07-Nov-18 10,000 2,500 12,500 JPC Enterprises 08-Jun-18 08-Dec-18 10,000 2,500 12,500 JPC Enterprises 12-Jul-18 12-Jan-19 8,000 2,000 10,000 JPC Enterprises 13-Aug-18 13-Feb-19 8,000 2,000 10,000 JPC Enterprises 17-Sep-18 17-Mar-19 8,000 2,000 10,000 JPC Enterprises 10-Oct-18 10-Apr-19 7,725 1,931 9,656 NEW AMERICA ENERGY CORP. (AN EXPLORATION STAGE COMPANY) NOTES TO THE FINANCIAL STATEMENTS AUGUST 31, 2015 NOTE 9 - SUBSEQUENT EVENTS (continued) Issuance Maturity Services Cash Original Issue Total Investor Date Date Provided Amount Discount Note JPC Enterprises 21-Nov-18 21-May-19 5,000 2,500 7,500 JPC Enterprises 11-Dec-18 12-Jun-19 8,000 2,000 10,000 JPC Enterprises 14-Jan-19 14-Jul-19 3,000 1,000 4,000 JPC Enterprises 30-Jan-19 30-Jul-19 10,000 2,500 12,500 JPC Enterprises 28-Feb-19 28-Nov-19 7,500 1,875 9,375 Carpathia, LLC 20-Mar-19 20-Dec-19 7,500 1,875 9,375 Carpathia, LLC 09-Apr-19 09-Jan-20 3,000 750 3,750 JPC Enterprises 29-Apr-19 29-Jan-20 7,500 1,875 9,375 JPC Enterprises 14-May-19 14-Feb-20 3,000 750 3,750 JPC Enterprises 13-Jun-19 13-Mar-20 7,000 1,750 8,750 JPC Enterprises 25-Jul-19 25-Apr-20 7,500 1,875 9,375 JPC Enterprises 27-Aug-19 27-May-20 7,500 1,875 9,375 JPC Enterprises 27-Sep-19 27-Jun-20 7,500 1,875 9,375 JPC Enterprises 28-Oct-19 28-Jul-20 7,500 1,875 9,375 JPC Enterprises 27-Nov-19 27-Aug-20 7,500 1,875 9,375 JPC Enterprises 30-Dec-19 30-Sep-20 7,500 1,875 9,375 JPC Enterprises 30-Jan-20 30-Oct-20 6,278 1,570 7,848 JPC Enterprises 27-Feb-20 27-Nov-20 6,278 1,570 7,848 JPC Enterprises 30-Mar-20 30-Dec-20 6,300 1,575 7,875 JPC Enterprises 30-Mar-20 30-Dec-20 6,300 1,575 7,875 JPC Enterprises 28-Apr-20 28-Jan-21 6,300 1,575 7,875 JPC Enterprises 08-May-20 28-Jan-21 5,000 1,250 6,250 JPC Enterprises 28-May-20 28-Feb-21 6,300 1,575 7,875 JPC Enterprises 23-Sep-20 23-Jun-21 6,300 1,575 7,875 JPC Enterprises 02-Oct-20 02-Jul-21 1,700 425 2,125 JPC Enterprises 16-Oct-20 16-Jul-21 6,300 1,575 7,875 JPC Enterprises 25-Nov-20 25-Aug-21 6,300 1,575 7,875 JPC Enterprises 25-Nov-20 25-Aug-21 4,500 1,125 5,625 Stout LLC 29-Dec-20 29-Sep-21 10,000 - - 10,000 JPC Enterprises 31-Dec-20 30-Sep-21 - 6,300 1,575 7,875 JPC Enterprises 15-Jan-21 15-Oct-21 - 7,700 1,925 9,625 JPC Enterprises 10-Feb-21 10-Nov-21 7,900 1,975 9,875 JPC Enterprises 02-Mar-21 02-Nov-21 5,000 1,250 6,250 JPC Enterprises 18-Mar-21 18-Nov-21 7,700 1,925 9,625 $10,000 $575,076 $161,089 $746,165 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies: Nature of Business, Policy (Policies) | 12 Months Ended |
Aug. 31, 2015 | |
Policies | |
Nature of Business, Policy | Nature of Business New America Energy Corp (formerly “Atheron, Inc.”) was incorporated in Nevada on May 8, 2006 as a development stage company, initially developing a technology for ethanol-methanol gasoline. The Company did not progress the development of this technology. On November 5, 2010, we underwent a change of control and the Company’s newly appointed sole director and majority shareholder approved a name change to New America Energy Corp. and a twenty-five (25) new for one (1) old forward stock split of the Company’s issued and outstanding shares of common stock, such that its issued and outstanding shares of common stock increased from 2,150,000 to 53,750,000. On November 16, 2010, the Nevada Secretary of State accepted for filing of the Certificate of Amendment to the Company’s Articles of Incorporation to change our name from Atheron Inc. to New America Energy Corp. The forward stock split and name change has become effective with the Over-the-Counter Bulletin Board at the opening of trading on December 1, 2010 under the Company’s new symbol “NECA”. Our new CUSIP number is 641872 106. The effect of the stock split has been recognized retroactively in the stockholders’ equity accounts as of May 8, 2006, the date of our inception, and in all shares and per share data in the financial statements. On February 3, 2011 we entered into property acquisition agreements with First Liberty Power Corp. (“FLPC”), and GeoXplor Inc. (“GeoXplor”). Pursuant to the terms of the agreements, we acquired an option, as well as exploration rights, in certain unpatented mining claims located in Southern Utah which we refer to the “Uravan Property”. On May 31, 2011, we amended the agreement to extend the payment date for an additional 120 days. The Company did not pay the required option payments under the agreements and the property was lost on September 30, 2011. On May 31, 2011, we entered into a property acquisition agreement with GeoXplor Corp. Pursuant to the terms of the agreement. Pursuant to the terms of the agreement, we acquired an option, as well as exploration rights, in certain unpatented mining claims located in Clayton Valley, Nye County, Nevada. Subsequently on October 27, 2011, we entered into an amended property acquisition agreement whereby we acquired additional claims. Further on June 20, 2012, we entered into an amended property acquisition agreement which amended and replaced the May 31, 2011 agreement and the October 27, 2011 agreement. Under the amended agreement we amended and extended the terms for payments to GeoXplor Corp. in exchange for the issuance of additional shares. On May 24, 2013, the Company received a letter of default from GeoXplor which give the Company 30 days to cure such default or the property rights will terminate and the Company will have no further rights or interest in or to the property. On June 26, 2012, the board of directors of the Company and certain shareholders hold majority voting rights approved the increase of our authorized capital from 75,000,000 to 800,000,000 shares of common stock. On November 14, 2012, the Company filed the articles of amendment with the State of Nevada to effect the increase in authorized share capital. On September 17, 2013, the Company made a decision to change its business model and decided to enter the short term loan business. In order to do this, the company acquired Title King LLC (“Title King”), a 100% owned subsidiary. Title King provides short-term high interest loans to consumers through the collateral use of car and truck titles. Title King operates n the alternative financial services industry, providing automobile title loans to consumers who their own vehicle free and clear and need convenient and simple access to funds. On September 27, 2013, the company issued to its Chie Executive Officer a Series A Preferred, which guarantees him majority voting rights. The Company currently has no interest in the mining and natural resources sector and does not anticipate returning to this sector. NEW AMERICA ENERGY CORP. (AN EXPLORATION STAGE COMPANY) NOTES TO THE FINANCIAL STATEMENTS AUGUST 31, 2015 NOTE 1 - SUMMARY OF ACCOUNTING POLICIES (continued) The Company made the following changes in its authorized shares with the Nevada Secretary of State as follows: Date Prior authorized shares New authorized shares Change 2/3/16 800,000,000 1,900,000,000 1,100,000,000 9/29/16 1,900,000,000 3,900,000,000 2,000,000,000 12/15/16 3,900,000,000 2,900,000,000 (1,000,000,000) 9/4/17 2,900,000,000 4,900,000,000 2,000,000,000 4/8/20 4,900,000,000 7,000,000,000 2,100,000,000 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies: Use of Estimates, Policy (Policies) | 12 Months Ended |
Aug. 31, 2015 | |
Policies | |
Use of Estimates, Policy | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies: Cash and Cash Equivalents, Policy (Policies) | 12 Months Ended |
Aug. 31, 2015 | |
Policies | |
Cash and Cash Equivalents, Policy | Cash and Cash Equivalents We consider all highly liquid investments with maturities of three months or less to be cash equivalents. As of August 31, 2015, 2014 and 2013, the Company had $1,115, $5,588 and $4 in cash and cash equivalents. |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies: Fair Value of Financial Instruments, Policy (Policies) | 12 Months Ended |
Aug. 31, 2015 | |
Policies | |
Fair Value of Financial Instruments, Policy | Fair Value of Financial Instruments New America Energy Corp’s financial instruments consist of cash and cash equivalents, deferred financing costs, accounts payable and accrued expenses, accrued interest and loans payable. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies: Income Tax, Policy (Policies) | 12 Months Ended |
Aug. 31, 2015 | |
Policies | |
Income Tax, Policy | Income Taxes The Company accounts for income taxes in accordance with ASC Topic 740, “Income Taxes.” ASC 740 requires a company to use the asset and liability method of accounting for income taxes, whereby deferred tax assets are recognized for deductible temporary differences, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion, or all of, the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Under ASC 740, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The adoption had no effect on the Company’s consolidated financial statements. |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies: Earnings Per Share, Policy (Policies) | 12 Months Ended |
Aug. 31, 2015 | |
Policies | |
Earnings Per Share, Policy | Basic Loss Per Share Earnings per share is calculated in accordance with ASC Topic 260, “Earnings Per Share.” Basic earnings per share (“EPS”) is based on the weighted average number of common shares outstanding. Diluted EPS is based on the assumption that all dilutive convertible shares and stock warrants were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. There are no potentially dilutive securities outstanding during any periods presented. |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies: New Accounting Pronouncements, Policy (Policies) | 12 Months Ended |
Aug. 31, 2015 | |
Policies | |
New Accounting Pronouncements, Policy | Recent Accounting Pronouncements In June 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-10 (ASU 2014-10), Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation. ASU 2014-10 eliminates the requirement to present inception-to-date information about income statement line items, cash flows, and equity transactions, and clarifies how entities should disclosure the risks and uncertainties related to their activities. ASU 2014-10 also eliminates an exception provided to development stage entities in Consolidations (ASC Topic 810) for determining whether an entity is a variable interest entity on the basis of the amount of investment equity that is at risk. The presentation and disclosure requirements in Topic 915 will no longer be required for interim and annual reporting periods beginning after December 15, 2014, and the revised consolidation standards will take effect in annual periods beginning after December 15, 2015. Early adoption is permitted. The Company will adopt the provisions of ASU 2014-10 effective for its financial statements for the period ended August 31, 2014, and will no longer present the inception-to-date information formally required. |
Convertible Debt Disclosure_ Sc
Convertible Debt Disclosure: Schedule of Debt Instruments (Policies) | 12 Months Ended |
Aug. 31, 2015 | |
Policies | |
Schedule of Debt Instruments | 2015 2014 2013 Convertible notes $ 502,349 $ 346,162 $ 250,000 Discount 58,694 83,812 38,828 Convertible notes, Net of discount $ 443,655 $ 262,350 $ 211,172 |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies: Nature of Business, Policy: Schedule of Authorized Shares (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Tables/Schedules | |
Schedule of Authorized Shares | Date Prior authorized shares New authorized shares Change 2/3/16 800,000,000 1,900,000,000 1,100,000,000 9/29/16 1,900,000,000 3,900,000,000 2,000,000,000 12/15/16 3,900,000,000 2,900,000,000 (1,000,000,000) 9/4/17 2,900,000,000 4,900,000,000 2,000,000,000 4/8/20 4,900,000,000 7,000,000,000 2,100,000,000 |
Short-term Debt Disclosure_ Sch
Short-term Debt Disclosure: Schedule of Short-term Debt (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Tables/Schedules | |
Schedule of Short-term Debt | Date Event Amount Balance 3/28/12 Issuance of debt $ 200,000 $ 200,000 8/31/13 Accrual of interest 2,580 202,580 9/22/13 Sale of debt (50,000) 152,580 12/11/13 Sale of debt (25,000) 127,580 4/15/14 Sale of debt (25,000) 102,580 4/15/14 Sale of debt (7,700) 94,880 8/31/14 Accrual of interest 490 95,370 |
Convertible Debt Disclosure_ Co
Convertible Debt Disclosure: Convertible debt balances, 2015 (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Tables/Schedules | |
Convertible debt balances, 2015 | Date Maturity Remaining Issuer Issued Date Amount Discount Book value Jahoco LLC 2-Dec-12 28-Mar-13 $80,000 $ - $80,000 Machiavelli LTD, LLC 2-Dec-12 4-Dec-13 113,000 - 113,000 War Chest Capital Multi-Strategy Fund LLC 3-Oct-13 3-Apr-14 12,000 - 12,000 Filer Support Services 31-Oct-13 31-Aug-14 14,912 - 14,912 Tarpon Bay Partners (consulting note) 7-Jan-14 7-Jan-15 25,000 - 25,000 Machiavelli LTD, LLC 26-Feb-14 26-Feb-15 12,500 - 12,500 Jeff M. Canouse 7-Mar-14 7-Mar-15 1,250 - 1,250 Machiavelli LTD, LLC 20-Mar-14 20-Mar-15 6,250 - 6,250 Jahoco LLC 17-Apr-14 17-Apr-15 6,250 - 6,250 Machiavelli LTD, LLC 24-Apr-14 24-Apr-15 6,250 - 6,250 Machiavelli LTD, LLC 14-May-14 14-May-15 6,250 - 6,250 Machiavelli LTD, LLC 29-May-14 29-May-15 12,500 - 12,500 Jahoco LLC 4-Jun-14 4-Jun-15 18,750 - 18,750 Machiavelli LTD, LLC 21-Jul-14 21-Jul-15 12,500 - 12,500 Carpathia, LLC 5-Aug-14 5-Aug-15 12,500 - 12,500 Jahoco LLC 28-Aug-14 28-Aug-15 6,250 - 6,250 JP Carey Irrevocable Trust 24-Sep-14 24-Sep-15 15,625 1,027 14,598 JP Carey Irrevocable Trust 28-Oct-14 28-Oct-15 12,500 1,986 10,514 Marisol Malave & Julio Perieira 31-Oct-14 31-Oct-15 31,250 5,223 26,027 Marisol Malave & Julio Perieira 31-Oct-14 31-Oct-15 31,250 5,223 26,027 JP Carey Irrevocable Trust 26-Feb-15 26-Feb-16 9,375 4,598 4,777 Anvil Financial Management LLC 27-Mar-15 27-Mar-16 12,500 7,138 5,362 Anvil Financial Management LLC 23-Apr-15 23-Apr-16 10,000 6,448 3,552 Anvil Financial Management LLC 13-May-15 13-May-16 6,250 4,372 1,878 Anvil Financial Management LLC 14-May-15 14-May-16 8,750 6,144 2,606 JP Carey Irrevocable Trust 16-Jun-15 16-Jun-16 4,125 3,268 857 Jeff M. Canouse 6-Jul-15 6-Jul-16 2,625 2,223 402 Machiavelli LTD, LLC 14-Jul-15 14-Jul-16 1,250 1,086 164 JP Carey Irrevocable Trust 6-Aug-15 6-Aug-16 10,688 9,957 730 $502,349 $58,694 $443,655 |
Convertible Debt Disclosure_ _2
Convertible Debt Disclosure: Convertible debt balances, 2014 (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Tables/Schedules | |
Convertible debt balances, 2014 | Date Maturity Remaining Issuer Issued Date Amount Discount Book value Jahoco LLC 2-Dec-12 28-Mar-13 $80,000 $- $80,000 Machiavelli LTD, LLC 2-Dec-12 4-Dec-13 113,000 - 113,000 War Chest Capital Multi-Strategy Fund LLC 3-Oct-13 3-Apr-14 12,000 - 12,000 Filer Support Services 31-Oct-13 31-Aug-14 14,912 - 14,912 Tarpon Bay Partners 7-Jan-14 7-Jan-15 25,000 8,836 16,164 Machiavelli LTD, LLC 26-Feb-14 26-Feb-15 12,500 6,130 6,370 Jeff M. Canouse 7-Mar-14 7-Mar-15 1,250 644 606 Machiavelli LTD, LLC 20-Mar-14 20-Mar-15 6,250 3,442 2,808 Jahoco LLC 17-Apr-14 17-Apr-15 6,250 3,921 2,329 Machiavelli LTD, LLC 24-Apr-14 24-Apr-15 6,250 4,041 2,209 Machiavelli LTD, LLC 14-May-14 14-May-15 6,250 4,384 1,866 Machiavelli LTD, LLC 29-May-14 29-May-15 12,500 9,281 3,219 Jahoco LLC 4-Jun-14 4-Jun-15 18,750 14,229 4,521 Machiavelli LTD, LLC 21-Jul-14 21-Jul-15 12,500 11,096 1,404 Carpathia, LLC 5-Aug-14 5-Aug-15 12,500 11,610 890 Jahoco LLC 28-Aug-14 28-Aug-15 6,250 6,199 51 $346,162 $83,812 $262,350 |
Convertible Debt Disclosure_ _3
Convertible Debt Disclosure: Convertible debt balances, 2013 (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Tables/Schedules | |
Convertible debt balances, 2013 | Date Maturity Remaining Issuer Issued Date Amount Discount Book value Jahoco LLC 02-Dec-12 28-Mar-13 $100,000 $- $100,000 Machiavelli LTD, LLC 02-Dec-12 04-Dec-13 150,000 38,828 111,172 $250,000 $38,828 $211,172 |
Stockholders' Equity Note Dis_2
Stockholders' Equity Note Disclosure: Schedule of Stock Issued (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Tables/Schedules | |
Schedule of Stock Issued | Date of conversion Converter Amount of conversion Shares issued 9/10/13 Southridge Partners II LP $3,000 1,500,000 9/20/13 Southridge Partners II LP 6,594 5,274,959 10/1/13 Southridge Partners II LP 5,276 5,276,044 10/10/13 Southridge Partners II LP 11,415 11,415,137 10/24/13 War Chest Capital 3,000 6,000,000 10/29/13 Machiavelli Ltd 7,700 7,700,000 10/29/13 Jahoco LLC 10,000 10,000,000 10/31/13 Southridge Partners II LP 6,279 11,416,391 11/13/13 Southridge Partners II LP 7,916 14,392,364 12/2/13 Southridge Partners II LP 7,030 10,043,386 12/10/13 Southridge Partners II LP 7,229 14,752,980 12/20/13 ASC Recap LLC 9,090 23,000,000 1/7/14 ASC Recap LLC 6,057 20,199,244 1/7/14 Machiavelli Ltd 10,800 20,000,000 1/23/14 ASC Recap LLC 5,048 20,191,320 1/28/14 Machiavelli Ltd 10,000 30,000,000 2/3/14 ASC Recap LLC 4,904 19,615,400 2/6/14 Jahoco LLC 10,000 30,000,000 2/26/14 Machiavelli Ltd 16,200 30,000,000 5/6/14 ASC Recap LLC 13,657 39,027,089 4/16/18 ASC Recap LLC 10,558 35,193,467 Totals $171,753 362,187,481 |
Income Tax Disclosure_ Schedule
Income Tax Disclosure: Schedule of Deferred Tax Assets (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Tables/Schedules | |
Schedule of Deferred Tax Assets | For the period ended August 31, 2015 2014 2013 Book loss for the year $ (314,769) $ (629,419) $ (713,306) Adjustments $ 32,994 $ 202,306 $ 211,172 Tax loss for the year $ (281,775) $ (427,113) $ (502,134) Estimated effective tax rate 34% 34% 34% Deferred tax asset $ 95,804 $ 145,218 $ 170,725 |
Income Tax Disclosure_ Summary
Income Tax Disclosure: Summary of Valuation Allowance (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Tables/Schedules | |
Summary of Valuation Allowance | For the period ended August 31, 2015 2014 2013 Deferred tax asset $ 95,804 $ 145,218 $ 170,725 Valuation allowance (95,804) (145,218) (170,725 Current taxes payable - - - Income tax expense $ - $ - $ - |
Income Tax Disclosure_ Summar_2
Income Tax Disclosure: Summary of Operating Loss Carryforwards (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Tables/Schedules | |
Summary of Operating Loss Carryforwards | Year Amount ($) Expiration 2006 43,985 2026 2007 25,000 2027 2008 9,000 2028 2009 10,000 2029 2010 10,842 2030 2011 692,217 2031 2012 474,997 2032 2013 170,725 2033 2014 145,218 2034 2015 95,804 2035 1,677,788 |
Subsequent Events_ Changes in a
Subsequent Events: Changes in authorized shares of Common stock (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Tables/Schedules | |
Changes in authorized shares of Common stock | Date Prior authorized shares New authorized shares Change 2/3/16 800,000,000 1,900,000,000 1,100,000,000 9/29/16 1,900,000,000 3,900,000,000 2,000,000,000 12/15/16 3,900,000,000 2,900,000,000 (1,000,000,000) 9/4/17 2,900,000,000 4,900,000,000 2,000,000,000 4/8/20 4,900,000,000 7,000,000,000 2,100,000,000 |
Subsequent Events_ Summary of s
Subsequent Events: Summary of stock issuances after 2015 (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Tables/Schedules | |
Summary of stock issuances after 2015 | Conversion of debt 4,440,383,154 Liabilities Purchase Agreement 822,573,000 Rescission of debt conversion (30,000,000) Return to treasury of Officer shares (63,209,923) Total shares issued 5,169,746,231 Shares outstanding at August 31, 2015 500,850,385 Shares issued 5,169,644,561 Total shares outstanding at 5,670,596,576 |
Subsequent Events_ Debt convers
Subsequent Events: Debt conversions during Subsequent Periods (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Tables/Schedules | |
Debt conversions during Subsequent Periods | Date of conversion Converter Amount of conversion ($) Shares issued 10/28/15 Machiavelli Ltd 2,700 45,000,000 11/10/15 Machiavelli Ltd 2,700 45,000,000 2/10/16 Beaufort Capital Partners 6,200 62,000,000 11/10/15 Machiavelli Ltd 8,000 66,666,667 2/26/16 Beaufort Capital Partners 2,300 23,000,000 3/21/16 Beaufort Capital Partners 3,375 67,500,000 4/1/16 World Market Ventures 4,020 67,000,000 4/4/16 Beaufort Capital Partners 3,725 74,500,000 4/11/16 Beaufort Capital Partners 2,900 58,000,000 4/11/16 Machiavelli Ltd 4,200 70,000,000 4/1/16 World Market Ventures 5,700 95,000,000 5/6/16 World Market Ventures 3,207 53,450,333 5/27/16 Machiavelli Ltd 6,600 110,000,000 6/9/16 V2IP, Inc. 4,200 111,000,000 7/1/16 Machiavelli Ltd 5,700 130,000,000 8/24/16 Jahoco Ltd. 3,207 130,000,000 8/29/16 Integrated Business Alliance, Inc. 6,600 111,000,000 |
Subsequent Events_ Debt conve_2
Subsequent Events: Debt conversions during Subsequent Periods P2 (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Tables/Schedules | |
Debt conversions during Subsequent Periods P2 | Date of conversion Converter Amount of conversion ($) Shares issued 10/4/16 World Market Ventures 4,650 155,000,000 10/31/16 Machiavelli Ltd. 2,000 100,000,000 12/20/16 Machiavelli Ltd. 35,100 195,000,000 12/20/16 World Market Ventures 6,250 95,525,000 3/3/17 Machiavelli Ltd. 26,400 220,000,000 6/30/17 Machiavelli Ltd 14,350 239,166,667 9/20/17 JGP Consulting 8,000 160,000,000 10/3/17 Tarpon Bay Partners LLC 10,000 200,000,000 11/17/17 Tarpon Bay Partners LLC 24,219 267,173,000 3/7/18 World Market Ventures 16,494 274,906,849 3/27/18 World Market Ventures 8,299 138,316,500 4/16/18 World Market Ventures 16,450 137,083,583 12/30/20 Oscaleta Partners LLC 19,623 425,365,800 12/30/20 Livingston Asset Management LLC 2,234 44,680,800 12/30/20 Carpathia LLC 28,143 469,047,945 Totals 265,689 3,970,336,544 |
Subsequent Events_ Liabilities
Subsequent Events: Liabilities Purchase Agreement, Shares Issued (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Tables/Schedules | |
Liabilities Purchase Agreement, Shares Issued | Date of issuance Shares 4-9-18 386,329,000 4-1-20 436,244,000 Total 822,573,000 |
Subsequent Events_ Issuance of
Subsequent Events: Issuance of convertible debt, subsequent periods (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Tables/Schedules | |
Issuance of convertible debt, subsequent periods | Issuance Maturity Services Cash Original Issue Total Investor Date Date Provided Amount Discount Note Machiavelli LTD, LLC 17-Oct-17 17-Oct-18 6,000 1,500 7,500 JPC Enterprises 15-Nov-17 14-May-18 3,000 1,500 4,500 Oscaleta Partners LLC 17-Nov-17 03-May-18 15,000 - 15,000 JPC Enterprises 14-Dec-17 14-Jun-18 7,000 1,750 8,750 JPC Enterprises 05-Jan-18 05-Jul-18 3,350 - 3,350 JPC Enterprises 10-Jan-18 10-Jul-18 10,000 2,500 12,500 JPC Enterprises 06-Feb-18 06-Aug-18 10,000 2,500 12,500 JPC Enterprises 12-Feb-18 12-Aug-18 25,000 - 25,000 JPC Enterprises 09-Mar-18 09-Sep-18 10,000 2,500 12,500 JPC Enterprises 09-Apr-18 09-Oct-18 8,000 2,000 10,000 JPC Enterprises 07-May-18 07-Nov-18 10,000 2,500 12,500 JPC Enterprises 08-Jun-18 08-Dec-18 10,000 2,500 12,500 JPC Enterprises 12-Jul-18 12-Jan-19 8,000 2,000 10,000 JPC Enterprises 13-Aug-18 13-Feb-19 8,000 2,000 10,000 JPC Enterprises 17-Sep-18 17-Mar-19 8,000 2,000 10,000 JPC Enterprises 10-Oct-18 10-Apr-19 7,725 1,931 9,656 |
Subsequent Events_ Issuance o_2
Subsequent Events: Issuance of convertible debt, subsequent periods P2 (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Tables/Schedules | |
Issuance of convertible debt, subsequent periods P2 | Issuance Maturity Services Cash Original Issue Total Investor Date Date Provided Amount Discount Note JPC Enterprises 21-Nov-18 21-May-19 5,000 2,500 7,500 JPC Enterprises 11-Dec-18 12-Jun-19 8,000 2,000 10,000 JPC Enterprises 14-Jan-19 14-Jul-19 3,000 1,000 4,000 JPC Enterprises 30-Jan-19 30-Jul-19 10,000 2,500 12,500 JPC Enterprises 28-Feb-19 28-Nov-19 7,500 1,875 9,375 Carpathia, LLC 20-Mar-19 20-Dec-19 7,500 1,875 9,375 Carpathia, LLC 09-Apr-19 09-Jan-20 3,000 750 3,750 JPC Enterprises 29-Apr-19 29-Jan-20 7,500 1,875 9,375 JPC Enterprises 14-May-19 14-Feb-20 3,000 750 3,750 JPC Enterprises 13-Jun-19 13-Mar-20 7,000 1,750 8,750 JPC Enterprises 25-Jul-19 25-Apr-20 7,500 1,875 9,375 JPC Enterprises 27-Aug-19 27-May-20 7,500 1,875 9,375 JPC Enterprises 27-Sep-19 27-Jun-20 7,500 1,875 9,375 JPC Enterprises 28-Oct-19 28-Jul-20 7,500 1,875 9,375 JPC Enterprises 27-Nov-19 27-Aug-20 7,500 1,875 9,375 JPC Enterprises 30-Dec-19 30-Sep-20 7,500 1,875 9,375 JPC Enterprises 30-Jan-20 30-Oct-20 6,278 1,570 7,848 JPC Enterprises 27-Feb-20 27-Nov-20 6,278 1,570 7,848 JPC Enterprises 30-Mar-20 30-Dec-20 6,300 1,575 7,875 JPC Enterprises 30-Mar-20 30-Dec-20 6,300 1,575 7,875 JPC Enterprises 28-Apr-20 28-Jan-21 6,300 1,575 7,875 JPC Enterprises 08-May-20 28-Jan-21 5,000 1,250 6,250 JPC Enterprises 28-May-20 28-Feb-21 6,300 1,575 7,875 JPC Enterprises 23-Sep-20 23-Jun-21 6,300 1,575 7,875 JPC Enterprises 02-Oct-20 02-Jul-21 1,700 425 2,125 JPC Enterprises 16-Oct-20 16-Jul-21 6,300 1,575 7,875 JPC Enterprises 25-Nov-20 25-Aug-21 6,300 1,575 7,875 JPC Enterprises 25-Nov-20 25-Aug-21 4,500 1,125 5,625 Stout LLC 29-Dec-20 29-Sep-21 10,000 - - 10,000 JPC Enterprises 31-Dec-20 30-Sep-21 - 6,300 1,575 7,875 JPC Enterprises 15-Jan-21 15-Oct-21 - 7,700 1,925 9,625 JPC Enterprises 10-Feb-21 10-Nov-21 7,900 1,975 9,875 JPC Enterprises 02-Mar-21 02-Nov-21 5,000 1,250 6,250 JPC Enterprises 18-Mar-21 18-Nov-21 7,700 1,925 9,625 $10,000 $575,076 $161,089 $746,165 |
Summary of Significant Accou_10
Summary of Significant Accounting Policies: Nature of Business, Policy (Details) | 12 Months Ended | |
Aug. 31, 2014 | Aug. 31, 2010 | |
Details | ||
Stock split description | On November 5, 2010, we underwent a change of control and the Company’s newly appointed sole director and majority shareholder approved a name change to New America Energy Corp. and a twenty-five (25) new for one (1) old forward stock split of the Company’s issued and outstanding shares of common stock, such that its issued and outstanding shares of common stock increased from 2,150,000 to 53,750,000 | |
Subsidiary acquisition, ownership perct | 100.00% |
Summary of Significant Accou_11
Summary of Significant Accounting Policies: Cash and Cash Equivalents, Policy (Details) - USD ($) | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 |
Details | |||
Cash | $ 1,115 | $ 5,588 | $ 4 |
Commitments and Contingencies_2
Commitments and Contingencies Disclosure (Details) | 12 Months Ended | |
Aug. 31, 2015USD ($)shares | Aug. 31, 2013USD ($) | |
Details | ||
Common stock to be issued per agreement | shares | 80,000 | |
Success fee of any capital raised | 0.10 | |
Restricted share award | shares | 150,000 | |
Capital raised benchmark | $ 1,000,000 | |
Professional fees | 32,100 | |
Deferred financing costs | $ 20,000 | |
Changes to additional paid in capital, financing agreement drawdown | $ 15,000 |
Related Party Transactions Di_2
Related Party Transactions Disclosure (Details) | 12 Months Ended | |||
Aug. 31, 2014shares | Apr. 26, 2021shares | Aug. 31, 2015shares | Aug. 31, 2013shares | |
Common Stock, Shares, Outstanding | 500,850,385 | 5,670,596,576 | 500,850,385 | 53,312,133 |
Title King LLC | ||||
Issuance of stock for aquisition, shares | 50,000,000 | |||
Chief Executive Officer | ||||
Series A Preferred stock issued and outstanding | 51 | |||
Voting rights of Preferred Series A | 0.51 | |||
Amount of total voting power shares of the preferred | 521,293,258 |
Short-term Debt Disclosure (Det
Short-term Debt Disclosure (Details) - USD ($) | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 |
Details | |||
Short-term notes | $ 95,370 | $ 95,370 | $ 202,285 |
Convertible Debt Disclosure_ _4
Convertible Debt Disclosure: Schedule of Debt Instruments (Details) - USD ($) | Apr. 26, 2021 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 |
Details | ||||
Convertible notes, gross | $ 575,076 | $ 502,349 | $ 346,162 | $ 250,000 |
Debt Instrument, Unamortized Discount (Premium), Net | 161,089 | 58,694 | 83,812 | 38,828 |
Convertible note payable | $ 746,165 | $ 443,655 | $ 262,350 | $ 211,172 |
Convertible Debt Disclosure_ _5
Convertible Debt Disclosure: Convertible debt balances, 2015 (Details) - USD ($) | Apr. 26, 2021 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 |
Details | ||||
Convertible notes, gross | $ 575,076 | $ 502,349 | $ 346,162 | $ 250,000 |
Debt Instrument, Unamortized Discount (Premium), Net | 161,089 | 58,694 | 83,812 | 38,828 |
Convertible note payable | $ 746,165 | $ 443,655 | $ 262,350 | $ 211,172 |
Convertible Debt Disclosure_ _6
Convertible Debt Disclosure: Convertible debt balances, 2014 (Details) - USD ($) | Apr. 26, 2021 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 |
Details | ||||
Convertible notes, gross | $ 575,076 | $ 502,349 | $ 346,162 | $ 250,000 |
Debt Instrument, Unamortized Discount (Premium), Net | 161,089 | 58,694 | 83,812 | 38,828 |
Convertible note payable | $ 746,165 | $ 443,655 | $ 262,350 | $ 211,172 |
Convertible Debt Disclosure_ _7
Convertible Debt Disclosure: Convertible debt balances, 2013 (Details) - USD ($) | Apr. 26, 2021 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 |
Details | ||||
Convertible notes, gross | $ 575,076 | $ 502,349 | $ 346,162 | $ 250,000 |
Debt Instrument, Unamortized Discount (Premium), Net | 161,089 | 58,694 | 83,812 | 38,828 |
Convertible note payable | $ 746,165 | $ 443,655 | $ 262,350 | $ 211,172 |
Stockholders' Equity Note Dis_3
Stockholders' Equity Note Disclosure (Details) | 12 Months Ended | ||
Aug. 31, 2015USD ($)shares | Aug. 31, 2014USD ($)shares | Aug. 31, 2013USD ($)$ / sharesshares | |
Issuance of stock for cash, value | $ | $ 13,500 | ||
Compensation expense | $ | $ 0 | $ 156,349 | 0 |
Chief Executive Officer | |||
Series A Preferred stock issued and outstanding | 51 | ||
Voting rights of Preferred Series A | 0.51 | ||
Compensation expense | $ | $ 156,349 | ||
Pursuant to financing agreement | |||
Issuance of stock for cash, value | $ | $ 15,000 | ||
Issuance of stock for cash, shares | 620,000 | ||
Price per share | $ / shares | $ 0.02419 | ||
Subsidiary aquisition, Title King | |||
Issuance of stock for aquisition, shares | 50,000,000 | ||
Ludlow Capital for consulting | |||
Issuance of stock for services, shares issued | 3,000,000 | ||
Former CEO for prior obligations | |||
Issuance of stock for services, shares issued | 32,350,771 |
Stockholders' Equity Note Dis_4
Stockholders' Equity Note Disclosure: Schedule of Stock Issued (Details) - shares | 12 Months Ended | 68 Months Ended |
Aug. 31, 2014 | Apr. 26, 2021 | |
Details | ||
Issuance of stock for debt conversion, shares issued | 362,187,481 | 3,970,336,544 |
Income Tax Disclosure_ Schedu_2
Income Tax Disclosure: Schedule of Deferred Tax Assets (Details) - USD ($) | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 |
Details | |||
Book loss for the year | $ (314,769) | $ (629,419) | $ (713,306) |
Deferred tax asset | $ 95,804 | $ 145,218 | $ 170,725 |
Income Tax Disclosure_ Summar_3
Income Tax Disclosure: Summary of Valuation Allowance (Details) - USD ($) | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 |
Details | |||
Deferred tax asset | $ 95,804 | $ 145,218 | $ 170,725 |
Deferred tax asset Valuation Allowance | $ (95,804) | $ (145,218) | $ (170,725) |
Income Tax Disclosure (Details)
Income Tax Disclosure (Details) | Aug. 31, 2015USD ($) |
Details | |
NOL carryforward | $ 1,401,716 |
Subsequent Events_ Changes in_2
Subsequent Events: Changes in authorized shares of Common stock (Details) - shares | Aug. 31, 2020 | Aug. 31, 2018 | Aug. 31, 2017 | Aug. 31, 2016 | Aug. 31, 2015 |
Details | |||||
Authorized shares of Common stock | 7,000,000,000 | 4,900,000,000 | 2,900,000,000 | 1,900,000,000 | 800,000,000 |
Subsequent Events_ Summary of_2
Subsequent Events: Summary of stock issuances after 2015 (Details) - shares | 68 Months Ended | |||
Apr. 26, 2021 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 | |
Details | ||||
Common shares outstanding | 5,670,596,576 | 500,850,385 | 500,850,385 | 53,312,133 |
Common shares issued during the subsequent period | 5,169,644,561 |
Subsequent Events_ Debt conve_3
Subsequent Events: Debt conversions during Subsequent Periods P2 (Details) - shares | 12 Months Ended | 68 Months Ended |
Aug. 31, 2014 | Apr. 26, 2021 | |
Details | ||
Issuance of stock for debt conversion, shares issued | 362,187,481 | 3,970,336,544 |
Subsequent Events_ Liabilitie_2
Subsequent Events: Liabilities Purchase Agreement, Shares Issued (Details) | 68 Months Ended |
Apr. 26, 2021shares | |
Details | |
Issuance of stock for assets, shares | 822,573,000 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) | 6 Months Ended | 10 Months Ended | 12 Months Ended | 68 Months Ended | |||
Mar. 14, 2016 | Jun. 23, 2016 | Aug. 31, 2014 | Apr. 26, 2021 | Feb. 28, 2018 | Aug. 31, 2015 | Aug. 31, 2013 | |
Issuance of stock for debt conversion, shares issued | 362,187,481 | 3,970,336,544 | |||||
Common shares returned to treasury | 63,209,923 | ||||||
Accounts payable | $ 113,568 | $ 115,318 | $ 23,567 | ||||
Rescission of debt conversion | |||||||
Debt extinguished | $ 16,200 | ||||||
Issuance of stock for debt conversion, shares issued | 30,000,000 | ||||||
Institution of Liabilities Purchase Agreement | |||||||
Accounts payable | $ 785,000 |
Subsequent Events_ Issuance o_3
Subsequent Events: Issuance of convertible debt, subsequent periods P2 (Details) - USD ($) | Apr. 26, 2021 | Aug. 31, 2015 | Aug. 31, 2014 | Aug. 31, 2013 |
Details | ||||
Convertible notes, gross | $ 575,076 | $ 502,349 | $ 346,162 | $ 250,000 |
Debt Instrument, Unamortized Discount (Premium), Net | 161,089 | 58,694 | 83,812 | 38,828 |
Convertible note payable | $ 746,165 | $ 443,655 | $ 262,350 | $ 211,172 |