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STOCKHOLDERS’ EQUITY
 3 Months Ended
Nov. 30, 2021
Equity [Abstract]  
STOCKHOLDERS’ EQUITY

NOTE 2 – STOCKHOLDERS’ EQUITY

 

Stockholders’ Equity

 

The Company is authorized to issue 500,000,000 shares of Common Stock with a par value of $0.001. As of November 30, 2021, and August 31, 2021, there were 40,633,399 and 40,433,399 shares outstanding, respectively.

 

Warrants

 

As of November 30, 2021, and August 31, 2021, the Company had 590,000 Class A Warrants and 590,000 Class B warrants outstanding. Both sets of warrants entitle the holder to exercise the warrants on a cash or a cashless basis until August 5, 2024. The Class A Warrants have an exercise price of $2.00 per share, and the Class B Warrants have an exercise price of $5.00 per share, but otherwise have identical terms.

 

Issuance of Shares

 

During the three months ended November 30, 2021, the Company issued 200,000 shares to an investment banking firm for investment banking services. The shares were valued at $2.75 per share, which was the closing price of the shares on the date of issuance.