Related Party Transactions
|3 Months Ended|
Nov. 30, 2015
|Related Party Transactions [Text Block]||
For the three months ended November 3, 2015, the Company accrued/paid $30,000 to CAB (2014: $24,000); to BKB Management Ltd. ("BKB") CAD$22,500 (2014: CAD$16,500) for management, consulting and accounting services; to a senior vice president $9,000 (2014: $Nil) for executive management consulting; and to Docherty Management Limited CAD$37,500 (2014: $Nil). CAB is owned by the CEO of the Company, BKB is owned by the CFO of the Company and Docherty Management Limited is owned by the President of the Company.
$107,664 was payable to the President, senior vice president and a company controlled by a CEO of the Company.
The related party transactions are recorded at the exchange amount established and agreed to between the related parties.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://www.xbrl.org/2003/role/presentationRef