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EXCEL - IDEA: XBRL DOCUMENT - IDS Industries, Inc.Financial_Report.xls
10-K - MAINBODY - IDS Industries, Inc.mainbody.htm
XML - IDEA: XBRL DOCUMENT - IDS Industries, Inc.R9.htm
XML - IDEA: XBRL DOCUMENT - IDS Industries, Inc.R1.htm
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EX-10.4 - EXHIBIT 10.4 - IDS Industries, Inc.ex10_4.htm
EX-31.2 - EXHIBIT 31.2 - IDS Industries, Inc.ex31_2.htm
EX-32.1 - EXHIBIT 32.1 - IDS Industries, Inc.ex32_1.htm
EX-31.1 - EXHIBIT 31.1 - IDS Industries, Inc.ex31_1.htm
EX-10.5 - EXHIBIT 10.5 - IDS Industries, Inc.ex10_5.htm
EX-10.3 - EXHIBIT 10.3 - IDS Industries, Inc.ex10_3.htm
v2.4.0.6
SUBSEQUENT EVENTS
12 Months Ended
Aug. 31, 2012
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

On September 19, 2012, the Company entered into an Agreement of Conveyance, Transfer and Assignment of Membership Interests and Assumption of Obligations (the “Agreement”) with our sole officer and director, Sterling Hamilton. Pursuant to the Agreement, the Company transferred all membership interests in our operating subsidiary, SOI Nevada, LLC, to Mr. Hamilton. In exchange for this assignment of membership interests, Mr. Hamilton agreed to assume and cancel all liabilities relating to our former business of developing a chain of flotation tank therapy spas. In addition, Mr. Hamilton agreed to release all liability under a promissory note due and owing to him in the amount of $2,000.

 

As a result of the Agreement, we are no longer pursuing our former business plan. Under the direction of our newly appointed officers and directors, as set forth below, we intend to develop a business focused on the design, manufacturing, and distribution solar-based portable power stations. We plan to offer a line of portable solar power generators under the brand name MySolarGenerators.Ô Our planned new product line product line will be available initially in four models based on customer needs. As our plans and our new business develop, we will make appropriate additional disclosures.

 

Effective October 12, 2012, our board of directors approved a merger with our wholly-owned subsidiary, IDS Acquisition, Inc., pursuant to NRS 92A.180. As part of the merger with our wholly-owned subsidiary, our board authorized a change in the name of the company to “IDS Solar Technologies, Inc.”

 

On September 30, 2012, the Company entered into a promissory note payable in the amount of $1,900, bearing interest at 10% per annum and due 90 days after funding was received.

 

On October 15, 2012, the Company entered into a promissory note payable in the amount of $20,000, bearing interest at 18% per annum and due 90 days after funding was received.

 

On November 27, 2012, the Company entered into a promissory note payable in the amount of $51,800 bearing interest at 5% per annum and due May 27, 2013.

 

The Company has analyzed its operations subsequent to August 31, 2012 through the date these financial statements were issued and has determined that it does not have any material subsequent events to disclose in these financial statements other than those discussed above.