Notes Payable (Details) - Schedule of Debt (Parentheticals) - Notes Payable, Other Payables [Member] - USD ($) |
3 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|
May 31, 2023 |
Jan. 04, 2022 |
Dec. 21, 2021 |
Dec. 01, 2021 |
Aug. 31, 2023 |
Feb. 28, 2023 |
Aug. 31, 2022 |
Dec. 21, 2012 |
|
Notes Payable (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||||||
Interest payments | $ 12,370 | $ 20,833 | ||||||
Debenture 1 [Member] | ||||||||
Notes Payable (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||||||
Amount | $ 250,000 | |||||||
Interest payable | payable quarterly commencing six months after issuance | |||||||
Interest Rate | 15.00% | |||||||
Warrants (in Shares) | 75,758 | |||||||
Maturity | Oct. 31, 2024 | Jul. 10, 2024 | ||||||
Warrants at an exercise price of (in Dollars per share) | $ 1.65 | |||||||
Payments | The Company shall make additional quarterly payments under Debenture 1 beginning 90 days after the end of its first fiscal quarter after January 10, 2025, and for the next five years, on an annual basis, equal to the greater of (a) 15% of the original principal amount, or (b) the purchaser’s pro rata portion of 5% of the distributions the Company receives as a result of the Quinn River Joint Venture during the prior fiscal year. | |||||||
Discount | $ 17,223 | |||||||
Original issue discount | $ 187,500 | |||||||
original issue discount was charged to operations | 13,876 | 18,145 | ||||||
Accrued interest | 9,375 | $ 9,375 | ||||||
Discount charged to operations | 1,275 | 1,667 | ||||||
Interest payments | $ 9,375 | 22,917 | ||||||
Debenture 2 [Member] | ||||||||
Notes Payable (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||||||
Amount | $ 250,000 | |||||||
Interest payable | payable quarterly commencing six months after issuance | |||||||
Interest Rate | 15.00% | |||||||
Warrants (in Shares) | 75,758 | |||||||
Maturity | Jul. 10, 2024 | |||||||
Warrants at an exercise price of (in Dollars per share) | $ 1.65 | |||||||
Payments | The Company shall make additional quarterly payments under Debenture 2 beginning 90 days after the end of its first fiscal quarter after January 10, 2025, and for the next five years, on an annual basis, equal to the greater of (a) 15% of the original principal amount, or (b) the purchaser’s pro rata portion of 5% of the distributions the Company receives as a result of the Quinn River Joint Venture during the prior fiscal year. | |||||||
Discount | $ 10,428 | |||||||
Original issue discount | $ 187,500 | |||||||
original issue discount was charged to operations | $ 18,145 | 18,145 | ||||||
Accrued interest | 6,224 | 9,375 | ||||||
Discount charged to operations | 1,009 | 1,009 | ||||||
Principal payments | 145,833 | 0 | ||||||
Debenture 3 [Member] | ||||||||
Notes Payable (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||||||
Amount | $ 500,000 | |||||||
Interest payable | payable quarterly commencing six months after issuance | |||||||
Interest Rate | 15.00% | |||||||
Warrants (in Shares) | 151,516 | |||||||
Maturity | Oct. 31, 2024 | Jul. 10, 2024 | ||||||
Warrants at an exercise price of (in Dollars per share) | $ 1.65 | |||||||
Payments | The Company shall make additional quarterly payments under Debenture 3 beginning 90 days after the end of its first fiscal quarter after January 10, 2025, and for the next five years, on an annual basis, equal to the greater of (a) 15% of the original principal amount, or (b) the purchaser’s pro rata portion of 5% of the distributions the Company receives as a result of the Quinn River Joint Venture during the prior fiscal year. | |||||||
Discount | $ 19,335 | |||||||
Original issue discount | $ 375,000 | |||||||
original issue discount was charged to operations | 29,886 | 36,290 | ||||||
Accrued interest | 18,750 | 18,750 | ||||||
Discount charged to operations | 1,541 | 1,871 | ||||||
Interest payments | 18,750 | 41,458 | ||||||
Debenture 4 [Member] | ||||||||
Notes Payable (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||||||
Amount | $ 500,000 | |||||||
Interest payable | payable quarterly commencing six months after issuance | |||||||
Interest Rate | 15.00% | |||||||
Warrants (in Shares) | 151,516 | |||||||
Maturity | Oct. 31, 2024 | Jul. 10, 2024 | ||||||
Warrants at an exercise price of (in Dollars per share) | $ 1.65 | |||||||
Payments | The Company shall make additional quarterly payments under Debenture 4 beginning 90 days after the end of its first fiscal quarter after January 10, 2025, and for the next five years, on an annual basis, equal to the greater of (a) 15% of the original principal amount, or (b) the purchaser’s pro rata portion of 5% of the distributions the Company receives as a result of the Quinn River Joint Venture during the prior fiscal year. | |||||||
Discount | $ 17,154 | |||||||
Original issue discount | 375,000 | |||||||
original issue discount was charged to operations | 30,882 | 37,500 | ||||||
Accrued interest | 18,750 | 18,750 | ||||||
Discount charged to operations | 1,413 | 1,715 | ||||||
Interest payments | 18,750 | 38,750 | ||||||
Debenture 5 [Member] | ||||||||
Notes Payable (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||||||
Amount | $ 500,000 | |||||||
Interest payable | payable quarterly commencing six months after issuance | |||||||
Interest Rate | 15.00% | |||||||
Warrants (in Shares) | 151,516 | |||||||
Maturity | Oct. 31, 2024 | Jul. 10, 2024 | ||||||
Warrants at an exercise price of (in Dollars per share) | $ 1.65 | |||||||
Payments | The Company shall make additional quarterly payments under Debenture 5 beginning 90 days after the end of its first fiscal quarter after January 10, 2025, and for the next five years, on an annual basis, equal to the greater of (a) 15% of the original principal amount, or (b) the purchaser’s pro rata portion of 5% of the distributions the Company receives as a result of the Quinn River Joint Venture during the prior fiscal year. | |||||||
Discount | $ 17,154 | |||||||
Original issue discount | 375,000 | |||||||
original issue discount was charged to operations | 30,882 | 37,500 | ||||||
Accrued interest | 18,750 | 18,750 | ||||||
Discount charged to operations | 1,413 | 1,715 | ||||||
Interest payments | 18,750 | 38,750 | ||||||
Debenture 6 [Member] | ||||||||
Notes Payable (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||||||
Amount | $ 500,000 | |||||||
Interest payable | payable quarterly commencing six months after issuance, | |||||||
Interest Rate | 15.00% | |||||||
Warrants (in Shares) | 151,516 | |||||||
Maturity | Oct. 31, 2024 | Jul. 10, 2024 | ||||||
Warrants at an exercise price of (in Dollars per share) | $ 1.65 | |||||||
Payments | The Company shall make additional quarterly payments under Debenture 6 beginning 90 days after the end of its first fiscal quarter after January 10, 2025, and for the next five years, on an annual basis, equal to the greater of (a) 15% of the original principal amount, or (b) the purchaser’s pro rata portion of 5% of the distributions the Company receives as a result of the Quinn River Joint Venture during the prior fiscal year. | |||||||
Discount | $ 17,154 | |||||||
Original issue discount | $ 375,000 | |||||||
original issue discount was charged to operations | 30,882 | 37,500 | ||||||
Accrued interest | 18,750 | 18,750 | ||||||
Discount charged to operations | 1,413 | 1,715 | ||||||
Interest payments | $ 18,750 | $ 38,750 |