Discontinued Operations
 6 Months Ended
Feb. 28, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations

NOTE 5 – DISCONTINUED OPERATIONS

 

During October 2013 the Company’s management and Board of Directors determined to dispose of Oncologix Corporation its Brachytherapy medical device subsidiary. On November 1, 2013, the company entered into a settlement agreement with Firetag, Stoss & Dowdell, PC. our former attorneys. Per the terms of the settlement agreement, we exchanged our 90% ownership and executed a $50,000 promissory note payable to Firetag in exchange for the forgiveness by Firetag of $145,522 in prior legal billings. The promissory note bears interest at 4% and requires 12 monthly payments of $4,257.49 beginning on December 1, 2013. Detailed below are the income and expenses related to these discontinued operations:

 

   For the Three Months Ended  For the Six Months Ended
   February 28,  February 28,  February 28,  February 28,
   2014  2013  2014  2013
Operating expenses:                    
General and administrative  $—     $36   $36   $72 
Depreciation and amortization   —      —      —      —   
                     
Total operating expenses   —      36    36    72 
                     
Loss from operations   —      (36)   (36)   (72)
                     
Other income (expense):                    
                     
Total other income (expense)   —      —      —      —   
                     
Loss from discontinued operations   —      (36)   (36)   (72)
Gain on disposal of discontinued operations   —      —      95,564    —   
                     
Loss from discontinued operations   —      (36)   95,528    (72)
                     
Less loss attributable to noncontrolling interest   —      (4)   —      (7)
                     
Net loss from discontinued operations  $—     $(32)  $95,528   $(65)