Quarterly report pursuant to Section 13 or 15(d)

Promissory Notes Payable

v3.21.2
Promissory Notes Payable
 9 Months Ended
May 31, 2021
Promissory Notes Payable [Abstract]  
PROMISSORY NOTES PAYABLE
9. PROMISSORY NOTES PAYABLE

              Principal
due		     Principal
due		  
Lender   Maturity Date   Interest
Rate		     May 31,
2021		     August 31,
2020		  
                       
Private lenders   On demand     - %   $ 40,000     $ 8,000  
Private lenders   On Demand     - %     20,000       -  
Private lenders   April 29, 2022     10.00 %     500,000       -  
                             
                $ 560,000     $ 8,000  

Two private lenders advanced $40,000 and $20,000 to the Company, these amounts are non-interest bearing, have no fixed terms of repayment and are payable on demand.


On April 29,2021 the Company issued a promissory note to a private lender in the aggregate sum of $500,000. The promissory note bears interest at 10% per annum and is repayable on April 29, 2022.