Cover
Cover - shares | 6 Months Ended | |
Feb. 28, 2021 | Mar. 30, 2021 | |
Cover [Abstract] | ||
Entity Registrant Name | NANOVATION MICROTECH, INC. | |
Entity Central Index Key | 0001685570 | |
Document Type | 10-Q | |
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 | Feb. 28, 2021 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2021 | |
Entity Ex Transition Period | false | |
Entity Common Stock Shares Outstanding | 80,616 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Interactive Data Current | Yes |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) | Feb. 28, 2021 | Aug. 31, 2020 |
Current Assets | ||
Total Current Assets | $ 0 | $ 0 |
TOTAL ASSETS | 0 | 0 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 11,601 | 12,100 |
Accrued Interest | 24,077 | 13,413 |
Convertible notes | 88,660 | 80,086 |
Due to related party | 13,354 | 0 |
TOTAL LIABILITIES | 137,692 | 105,599 |
STOCKHOLDERS' DEFICIT | ||
Common stock, par value $0.001 per share, 75,000,000 shares authorized, 80,616 shares issued and outstanding | 81 | 81 |
Additional paid-in capital | 119,516 | 110,942 |
Retained earnings from discontinued operations | 29,190 | 29,190 |
Accumulated deficit | (286,479) | (245,812) |
Total Stockholders' Deficit | (137,692) | (105,599) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 0 | $ 0 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Feb. 28, 2021 | Aug. 31, 2020 |
STOCKHOLDERS' DEFICIT | ||
Common stock, shares par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 80,616 | 80,616 |
Common stock, shares outstanding | 80,616 | 80,616 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2021 | Feb. 29, 2020 | |
Consolidated Statements of Operations (Unaudited) | ||||
REVENUES, NET OF FEES | $ 0 | $ 0 | $ 0 | $ 794 |
OPERATING EXPENSES | ||||
General and administrative | 4,230 | 6,523 | 21,428 | 23,173 |
Total Operating Expenses | 4,230 | 6,523 | 21,428 | 23,173 |
OTHER EXPENSES | ||||
Interest expense | 5,547 | 73,162 | 19,239 | 73,162 |
Total other expenses | 5,547 | 73,162 | 19,239 | 73,162 |
Loss Before Income Taxes | (9,777) | (79,685) | (40,667) | (95,541) |
Provision for Income Taxes | 0 | 0 | 0 | 0 |
NET LOSS | $ (9,777) | $ (79,685) | $ (40,667) | $ (95,541) |
Net loss per share: Basic and Diluted | $ (0.12) | $ (0.99) | $ (0.50) | $ (1.19) |
Weighted Average Common Shares Outstanding - Basic and Diluted | 80,616 | 80,616 | 80,616 | 80,616 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders Equity (Deficit) (Unaudited) - USD ($) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings From Discontinued Operations [Member] | Accumulated Deficit [Member] |
Balance, shares at Aug. 31, 2019 | 80,616 | ||||
Balance, amount at Aug. 31, 2019 | $ (52,564) | $ 81 | $ 30,856 | $ 29,190 | $ (112,691) |
Net loss | (15,856) | $ 0 | 0 | 0 | (15,856) |
Balance, shares at Nov. 30, 2019 | 80,616 | ||||
Balance, amount at Nov. 30, 2019 | (68,420) | $ 81 | 30,856 | 29,190 | (128,547) |
Balance, shares at Aug. 31, 2019 | 80,616 | ||||
Balance, amount at Aug. 31, 2019 | (52,564) | $ 81 | 30,856 | 29,190 | (112,691) |
Net loss | (95,541) | ||||
Balance, shares at Feb. 29, 2020 | 80,616 | ||||
Balance, amount at Feb. 29, 2020 | (79,292) | $ 81 | 99,669 | 29,190 | (208,232) |
Balance, shares at Nov. 30, 2019 | 80,616 | ||||
Balance, amount at Nov. 30, 2019 | (68,420) | $ 81 | 30,856 | 29,190 | (128,547) |
Net loss | (79,685) | 0 | 0 | 0 | (79,685) |
Note Beneficial Conversion Feature | 68,813 | $ 0 | 68,813 | 0 | 0 |
Balance, shares at Feb. 29, 2020 | 80,616 | ||||
Balance, amount at Feb. 29, 2020 | (79,292) | $ 81 | 99,669 | 29,190 | (208,232) |
Balance, shares at Aug. 31, 2020 | 80,616 | ||||
Balance, amount at Aug. 31, 2020 | (105,599) | $ 81 | 110,942 | 29,190 | (245,812) |
Net loss | (30,890) | $ 0 | 0 | 0 | (30,890) |
Note Beneficial Conversion Feature | 8,574 | 8,574 | 0 | ||
Balance, shares at Nov. 30, 2020 | 80,616 | ||||
Balance, amount at Nov. 30, 2020 | (127,915) | $ 81 | 119,516 | 29,190 | (276,702) |
Balance, shares at Aug. 31, 2020 | 80,616 | ||||
Balance, amount at Aug. 31, 2020 | (105,599) | $ 81 | 110,942 | 29,190 | (245,812) |
Net loss | (40,667) | ||||
Balance, shares at Feb. 28, 2021 | 80,616 | ||||
Balance, amount at Feb. 28, 2021 | (137,692) | $ 81 | 119,516 | 29,190 | (286,479) |
Balance, shares at Nov. 30, 2020 | 80,616 | ||||
Balance, amount at Nov. 30, 2020 | (127,915) | $ 81 | 119,516 | 29,190 | (276,702) |
Net loss | (9,777) | (9,777) | |||
Balance, shares at Feb. 28, 2021 | 80,616 | ||||
Balance, amount at Feb. 28, 2021 | $ (137,692) | $ 81 | $ 119,516 | $ 29,190 | $ (286,479) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Feb. 28, 2021 | Feb. 29, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (40,667) | $ (95,541) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Note Discount Amortization | 8,574 | 68,813 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 0 | 148 |
Accounts payable and accrued liabilities | (499) | 600 |
Accrued interest | 10,664 | 4,349 |
Net cash used in operating activities | (21,928) | (21,631) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Advancement from director | 13,354 | 0 |
Proceeds from issuance of convertible note | 8,574 | 22,573 |
Net cash provided by financing activities | 21,928 | 22,573 |
Net changes in cash and cash equivalents | 0 | 942 |
Cash and cash equivalents - beginning of period | 0 | 1,848 |
Cash and cash equivalents - end of period | 0 | 2,790 |
Supplemental Cash Flow Disclosures | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | 0 | 0 |
Non-Cash Investing and Financing Activity: | ||
Note Beneficial Conversion Feature | $ 8,574 | $ 68,813 |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS | 6 Months Ended |
Feb. 28, 2021 | |
ORGANIZATION AND NATURE OF BUSINESS | |
NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS | Nanovation Microtech, Inc. (“the Company”) was incorporated on July 20, 2016 in the State of Nevada. On May 4, 2018, as a result of a private transaction, the control block of voting stock of the Company, represented by 4,000,000 shares of common stock, was transferred from Jose Maria Galarza Gaona to Greenfields International Limited, and a change of control of Kalmin Corp. has occurred. Upon the change of control of the Company, the existing directors and officers resigned immediately. Accordingly, Jose Maria Galarza Gaona, serving as director and President and Karel Astride Oulai, serving as Treasurer and Secretary, ceased to be the Company’s officers and directors. At the effective date of the transfer, Xie Qi Kang, age 36, assumed the role of director and Chief Executive Officer, President, Secretary and Treasurer of the Company. Previous Business From inception until May 4, 2018, the Company manufactured and sold the necessary equipment for drinking mate – kalabas and bombilla. With the change of control on May 4, 2018, management determined it was in the best interest of the Company to seek new business opportunities. Acquisition On December 1, 2018, the Company entered into a Share Sale and Purchase Agreement (the “Agreement”) with No Tie LLC (“No Tie”). Under the terms of the Agreement, the Company have agreed to purchase all of the issued and outstanding shares of No Tie and its mobile application assets for a purchase price of $37,500 (the “Acquisition”). In connection with the Agreement, the Company assumed certain ongoing responsibilities of No Tie, including maintaining Apple developer licenses and domain name registration and hosting. The Acquisition closed on January 25, 2019. At closing, No Tie became a subsidiary of our company. On June 15, 2020, the Company approved the name change and a 60:1 reverse stock split which was approved by FINRA and effective July 15, 2020. Current Business Upon closing of the Acquisition, the Company is now an App business with 120+ Apps primarily for iPhone, iPad and Apple. |
GOING CONCERN
GOING CONCERN | 6 Months Ended |
Feb. 28, 2021 | |
GOING CONCERN | |
NOTE 2 - GOING CONCERN | The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”), which contemplate continuation of the Company as a going concern. The Company incurred an operating loss of $40,667 during the six months ended February 28, 2021 and has accumulated deficit of $286,479 from continued operations and retained earnings of $29,190 from discontinued operations as of February 28, 2021. The Company has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. Therefore, there is substantial doubt about the Company’s ability to continue as a going concern. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. The Company intends to position itself so that it will be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors to become financially viable and continue as a going concern. These financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
SUMMARY OF SIGNIFCANT ACCOUNTIN
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | 6 Months Ended |
Feb. 28, 2021 | |
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | |
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Basis of presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with GAAP for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the six months ended February 28, 2021 are not necessarily indicative of the results that may be expected for the year ending August 31, 2021. Notes to the unaudited interim financial statements that would substantially duplicate the disclosures contained in the audited financial statements for fiscal year 2020 have been omitted. These interim financial statements are condensed and should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended August 31, 2020 included in the Company’s Form 10-K as filed with the Securities and Exchange Commission on December 10, 2020. Principles of Consolidation The accompanying consolidated financial statements include all of the accounts of the Company and its wholly owned subsidiary, No Tie, LLC. All significant intercompany accounts and transactions have been eliminated. Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. Use of Estimates The preparation of financial statements in conformity with GAAP 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 of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Revenue Recognition The Company recognizes revenue from the sale of products and services in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers Step 1: Identify the contract(s) with customers Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to performance obligations Step 5: Recognize revenue when the entity satisfies a performance obligation The Company’s sales are completed through an online platforms by third parties. The Company receives collection on payments either at the time of sale, or 30 or 60 days subsequent to the sale. For products and services where collection is immediate, the Company recognizes revenue at the time of sale. Accounts Receivable The Company records accounts receivable in accordance with ASC 310, “Receivables.” Receivables consist of mobile application sales that have been made, but cash has not yet been received. The terms of receivables are typically 60 days after sale. Basic and Diluted Net Loss Per Share Net loss per share is calculated in accordance with Codification topic 260, “Earnings Per Share” for the periods presented. Basic net loss per share is computed using the weighted average number of common shares outstanding. Diluted loss per share has not been presented because there are no dilutive items. Diluted net loss per share is based on the assumption that all dilutive stock options, warrants, and convertible debt are converted or exercised by applying the treasury stock method. Under this method, options and warrants are assumed 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. Options, warrants and/or convertible debt will have a dilutive effect, during periods of net profit, only when the average market price of the common stock during the period exceeds the exercise or conversion price of the items. The Company has not issued any options or warrants or similar securities since inception. For the six months ended February 28, 2021 and February 29, 2020, respectively, the following convertible notes were excluded from the computation of diluted net loss per shares as the result of the computation was anti-dilutive: February 28, February 29, 2021 2020 (Shares) (Shares) Convertible notes payable 88,659,730 68,813,000 Recent Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, ASC Subtopic 470-20 “ Debt—Debt with Conversion and Other Options |
CONVERTIBLE NOTES
CONVERTIBLE NOTES | 6 Months Ended |
Feb. 28, 2021 | |
CONVERTIBLE NOTES | |
NOTE 4 - CONVERTIBLE NOTES | February 28, August 31, 2021 2020 Convertible Notes - December 2019 $ 68,813 $ 68,813 Convertible Notes - May 2020 4,230 4,230 Convertible Notes - August 2020 7,043 7,043 Convertible Notes - November 2020 8,574 - 88,660 80,086 less: current convertible note payable (88,660 ) (80,086 ) Long-term convertible note payable $ - $ - On December 1, 2019, the Company issued a convertible note to an un-affiliated party of $68,813 to replace the full amount of related party advances that had been provided to the Company. The convertible notes are due on demand, bear interest at 25% per annum and are convertible at $0.001 per share for the Company common stock. The discount on convertible notes from beneficial conversion feature of $68,813 was fully amortized during the nine ended May 31, 2020. On May 31, 2020, the Company issued a convertible note to an un-affiliated party of $4,230 for paying operating expenses on behalf of the Company. The convertible notes are due on demand, bear interest at 25% per annum and are convertible at $0.001 per share for the Company common stock. The discount on convertible notes from beneficial conversion feature of $4,230 was fully amortized during the year ended August 31, 2020. On August 31, 2020, the Company issued a convertible note to an un-affiliated party of $7,043 for paying operating expenses on behalf of the Company. The convertible notes are due on demand, bear interest at 25% per annum and are convertible at $0.001 per share for the Company common stock. The discount on convertible notes from beneficial conversion feature of $7,043 was fully amortized during the year ended August 31, 2020. On November 30, 2020, the Company issued a convertible note to an un-affiliated party of $8,574 for paying operating expenses on behalf of the Company. The convertible notes are due on demand, bear interest at 25% per annum and are convertible at $0.001 per share for the Company common stock. The discount on convertible notes from beneficial conversion feature of $8,574 was fully amortized during the six months ended February 28, 2021. As of February 28, 2021 and August 31, 2020, the Company owed convertible note payable of $88,660 and $80,086, and accrued interest of $24,077 and $13,413, respectively. During the six months ended February 28, 2021 and February 29, 2020, the Company incurred interest expense of $10,664 and $4,349, and amortization of note discount of $8,574 and $68,813, respectively. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
Feb. 28, 2021 | |
RELATED PARTY TRANSACTIONS | |
NOTE 5 - RELATED PARTY TRANSACTIONS | During the six months ended February 28, 2021 and February 29, 2020, the Director of the Company advanced $13,354 and $0 to the Company for operation expenses, respectively. As of February 28, 2021 and August 31, 2020, amount due to the related party was $13,354 and $0, respectively. |
COMMON STOCK
COMMON STOCK | 6 Months Ended |
Feb. 28, 2021 | |
COMMON STOCK | |
NOTE 6 - COMMON STOCK | The Company has authorized seventy-five million (75,000,000) shares of common stock with a par value of $0.001. On June 15, 2020, a majority of our stockholders and our board of directors approved a reverse stock split of our issued and outstanding shares of common stock on a sixty (60) old for one (1) new basis. The reverse stock split became effective on July 15, 2020. The reverse stock split has been retrospectively reflected in the financial statements for the year ended August 31, 2020. As of February 28, 2021 and August 31, 2020, 80,616 shares of common stock were issued and outstanding. |
RISKS AND UNCERTAINTIES
RISKS AND UNCERTAINTIES | 6 Months Ended |
Feb. 28, 2021 | |
RISKS AND UNCERTAINTIES | |
NOTE 7 - RISKS AND UNCERTAINTIES | In early 2020, the World Health Organization declared the rapidly spreading coronavirus disease (COVID-19) outbreak a pandemic. This pandemic has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no material adverse impacts on the Company’s results of operations and financial position at February 28, 2021. The full extent of the future impacts of COVID-19 on the Company’s operations is uncertain. A prolonged outbreak could have a material adverse impact on financial results and business operations of the Company in the future. The Company is not may |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Feb. 28, 2021 | |
SUBSEQUENT EVENTS | |
NOTE 8 - SUBSEQUENT EVENTS | Management has evaluated subsequent events through the date these financial statements were available to be issued. Based on our evaluation no material events have occurred that require disclosure. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Feb. 28, 2021 | |
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | |
Basis of presentation | The accompanying unaudited interim consolidated financial statements have been prepared in accordance with GAAP for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the six months ended February 28, 2021 are not necessarily indicative of the results that may be expected for the year ending August 31, 2021. Notes to the unaudited interim financial statements that would substantially duplicate the disclosures contained in the audited financial statements for fiscal year 2020 have been omitted. These interim financial statements are condensed and should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended August 31, 2020 included in the Company’s Form 10-K as filed with the Securities and Exchange Commission on December 10, 2020. |
Principles of Consolidation | The accompanying consolidated financial statements include all of the accounts of the Company and its wholly owned subsidiary, No Tie, LLC. All significant intercompany accounts and transactions have been eliminated. |
Cash and Cash Equivalents | The Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. |
Use of Estimates | The preparation of financial statements in conformity with GAAP 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 of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Revenue Recognition | The Company recognizes revenue from the sale of products and services in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers Step 1: Identify the contract(s) with customers Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to performance obligations Step 5: Recognize revenue when the entity satisfies a performance obligation The Company’s sales are completed through an online platforms by third parties. The Company receives collection on payments either at the time of sale, or 30 or 60 days subsequent to the sale. For products and services where collection is immediate, the Company recognizes revenue at the time of sale. |
Accounts Receivable | The Company records accounts receivable in accordance with ASC 310, “Receivables.” Receivables consist of mobile application sales that have been made, but cash has not yet been received. The terms of receivables are typically 60 days after sale. |
Basic and Diluted Net Loss Per Share | Net loss per share is calculated in accordance with Codification topic 260, “Earnings Per Share” for the periods presented. Basic net loss per share is computed using the weighted average number of common shares outstanding. Diluted loss per share has not been presented because there are no dilutive items. Diluted net loss per share is based on the assumption that all dilutive stock options, warrants, and convertible debt are converted or exercised by applying the treasury stock method. Under this method, options and warrants are assumed 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. Options, warrants and/or convertible debt will have a dilutive effect, during periods of net profit, only when the average market price of the common stock during the period exceeds the exercise or conversion price of the items. The Company has not issued any options or warrants or similar securities since inception. For the six months ended February 28, 2021 and February 29, 2020, respectively, the following convertible notes were excluded from the computation of diluted net loss per shares as the result of the computation was anti-dilutive: February 28, February 29, 2021 2020 (Shares) (Shares) Convertible notes payable 88,659,730 68,813,000 |
Recent Accounting Pronouncements | In August 2020, the FASB issued ASU 2020-06, ASC Subtopic 470-20 “ ”. The standard reduced the number of accounting models for convertible debt instruments and convertible preferred stock. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting; and, (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. The amendments in this update are effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is currently assessing the impact of the adoption of this standard on its financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended |
Feb. 28, 2021 | |
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | |
Schedule of antidilutive securities excluded from computation of earnings per share | February 28, February 29, 2021 2020 (Shares) (Shares) Convertible notes payable 88,659,730 68,813,000 |
CONVERTIBLE NOTES (Tables)
CONVERTIBLE NOTES (Tables) | 6 Months Ended |
Feb. 28, 2021 | |
CONVERTIBLE NOTES (Tables) | |
Schedule of convertible notes | February 28, August 31, 2021 2020 Convertible Notes - December 2019 $ 68,813 $ 68,813 Convertible Notes - May 2020 4,230 4,230 Convertible Notes - August 2020 7,043 7,043 Convertible Notes - November 2020 8,574 - 88,660 80,086 less: current convertible note payable (88,660 ) (80,086 ) Long-term convertible note payable $ - $ - |
ORGANIZATION AND NATURE OF BU_2
ORGANIZATION AND NATURE OF BUSINESS (Details Narrative) - USD ($) | 1 Months Ended | ||
Jun. 15, 2020 | Dec. 01, 2018 | May 04, 2018 | |
Reverse stock split description | A majority of our stockholders and our board of directors approved a reverse stock split of our issued and outstanding shares of common stock on a sixty (60) old for one (1) new basis. The reverse stock split became effective on July 15, 2020 | ||
No Tie LLC [Member] | |||
Payment to acquire business | $ 37,500 | ||
Reverse stock split description | The Company approved the name change and a 60:1 reverse stock split which was approved by FINRA and effective July 15, 2020 | ||
Jose Maria Galarza Gaona [Member] | |||
Number of shares transferred | 4,000,000 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||||
Feb. 28, 2021 | Nov. 30, 2020 | Feb. 29, 2020 | Nov. 30, 2019 | Feb. 28, 2021 | Feb. 29, 2020 | Aug. 31, 2020 | |
GOING CONCERN | |||||||
Net loss | $ (9,777) | $ (30,890) | $ (79,685) | $ (15,856) | $ (40,667) | $ (95,541) | |
Accumulated deficit | (286,479) | (286,479) | $ (245,812) | ||||
Retained earnings from discontinued operations | $ 29,190 | $ 29,190 | $ 29,190 |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - shares | 6 Months Ended | |
Feb. 28, 2021 | Feb. 29, 2020 | |
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | ||
Convertible notes payable | 88,659,730 | 68,813,000 |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (DetailsNarrative) | 6 Months Ended |
Feb. 28, 2021 | |
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | |
Description of accounts receivables | The terms of receivables are typically 60 days after sale |
Description of revenue receives | The Company receives collection on payments either at the time of sale, or 30 or 60 days subsequent to the sale |
CONVERTIBLE NOTES (Details)
CONVERTIBLE NOTES (Details) - USD ($) | Feb. 28, 2021 | Aug. 31, 2020 |
Total Convertible Notes Payable | $ 88,660 | $ 80,086 |
Less: current convertible note payable | (88,660) | (80,086) |
Long-term convertible notes payable | 0 | 0 |
November 2020 [Member] | ||
Total Convertible Notes Payable | 8,574 | 7,043 |
December 2019 [Member] | ||
Total Convertible Notes Payable | 68,813 | 68,813 |
May 2020 [Member] | ||
Total Convertible Notes Payable | 4,230 | 4,230 |
August 2020 [Member] | ||
Total Convertible Notes Payable | $ 7,043 | $ 7,043 |
CONVERTIBLE NOTES (Details Narr
CONVERTIBLE NOTES (Details Narrative) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Aug. 31, 2020 | May 31, 2020 | |
Interest expense | $ 10,664 | $ 4,349 | ||
Convertible note | 88,660 | $ 80,086 | ||
Note Discount Amortization | 8,574 | |||
Accrued interest | 24,077 | 13,413 | ||
Un-Affiliated Party [Member] | ||||
Convertible note | 8,574 | $ 4,230 | ||
Note Discount Amortization | $ 8,574 | $ 4,230 | ||
Convertible note, interest rate | 25.00% | 25.00% | ||
Convertible note, price per share | $ 0.001 | $ 0.001 | ||
Un-Affiliated Party [Member] | August 31, 2020 [Member] | ||||
Convertible note | $ 7,043 | |||
Note Discount Amortization | $ 7,043 | |||
Convertible note, interest rate | 25.00% | |||
Convertible note, price per share | $ 0.001 | |||
Un-Affiliated Party [Member] | December 1, 2019 [Member] | ||||
Convertible note | $ 68,813 | |||
Note Discount Amortization | $ 68,813 | |||
Convertible note, interest rate | 25.00% | |||
Convertible note, price per share | $ 0.001 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 6 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Aug. 31, 2020 | |
COMMON STOCK | |||
Advanced operating expenses | $ 13,354 | $ 0 | |
Due to the related party | $ 13,354 | $ 0 |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) - $ / shares | 1 Months Ended | ||
Jun. 15, 2020 | Feb. 28, 2021 | Aug. 31, 2020 | |
COMMON STOCK | |||
Reverse stocks split description | A majority of our stockholders and our board of directors approved a reverse stock split of our issued and outstanding shares of common stock on a sixty (60) old for one (1) new basis. The reverse stock split became effective on July 15, 2020 | ||
Common stock, shares authorized | 75,000,000 | 75,000,000 | |
Common stock, shares par value | $ 0.001 | $ 0.001 | |
Common stock, shares issued | 80,616 | 80,616 | |
Common stock, shares outstanding | 80,616 | 80,616 |