LINE OF CREDIT	9 Months Ended
May 31, 2024
LINE OF CREDIT
LINE OF CREDIT	10. LINE OF CREDIT The revolving line of credit (“LOC”) consists of notes in the principal amount of $901,176 that was paid in cash and the conversion of 12,017 of Preferred B stock into debt with a principal amount of $1,201,602. The LOC has a maximum draw amount of $5,000,000. Advances on the LOC bear interest, on the outstanding principal balance at a rate equal to ten (10%) per annum. The LOC has a maturity date of September 30, 2024. As of May 31, 2024 and August 31, 2023, the Company’s principal balance is $0 and $1,629,801, with a debt discount of $0 and $473,311, respectively.

LINE OF CREDIT

9 Months Ended

May 31, 2024

10. LINE OF CREDIT

The revolving line of credit (“LOC”) consists of notes in the principal amount of $901,176 that was paid in cash and the conversion of 12,017 of Preferred B stock into debt with a principal amount of $1,201,602. The LOC has a maximum draw amount of $5,000,000. Advances on the LOC bear interest, on the outstanding principal balance at a rate equal to ten (10%) per annum. The LOC has a maturity date of September 30, 2024. As of May 31, 2024 and August 31, 2023, the Company’s principal balance is $0 and $1,629,801, with a debt discount of $0 and $473,311, respectively.