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EXCEL - IDEA: XBRL DOCUMENT - SAUER ENERGY, INC.Financial_Report.xls
10-K - FORM 10K - SAUER ENERGY, INC.sauer8312012_10k.htm
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EX-32.1 - EXHIBIT 32.1 - SAUER ENERGY, INC.exhibit321_ex32z1.htm
EX-31.1 - EXHIBIT 31.1 - SAUER ENERGY, INC.exhibit311_ex31z1.htm
v2.4.0.6
Note 7 - Commitments and Contingencies: Note 7 - Commitments and Contingencies (Policies)
12 Months Ended
Aug. 31, 2012
Policies  
Note 7 - Commitments and Contingencies:

Note 7 – Commitments and Contingencies:

 

On August 17, 2012, the Company leased a 10,410 square foot “industrial condominium”  in Camarillo, California, for three years for monthly lease payments of $7,000 per month. There are no common area costs. All company operations are concentrated at the site.

 

 Lease Commitments – following five fiscal years:

 

Fiscal year ended

August 31,

2012

 

$

84,200

 

2013

 

 

84,200

 

2014

 

 

 80,161

 

 

 

 

$248,161

 

 

 

 

 

 

 

Starting on July 25, 2010, the Company entered into a series of private placement agreements with various investors. The arrangement involved issuing 800,000 units of securities at $0.25 per unit for a total amount of $200,000. Each unit consisted of one (1) share of common stock, par value $0.0001 per share and one (1) common stock purchase warrant expiring July 31, 2012 with an exercise price of $0.50 each. The private placement was oversubscribed and the Company accepted additional private placement funds. As at August 31, 2011, the Company had issued 938,000 units of the securities in consideration of funds received of $234,500.

 

Starting on January 1, 2011, the Company entered into a series of private placement agreements with various investors. The arrangement involved issuing 666,667 units of securities at $0.30 per unit for a total amount of $200,000. Each unit consisted of one (1) share of common stock, par value $0.0001 per share and one (1) common stock purchase warrant expiring July 31, 2013 with an exercise price of $0.60 each. The private placement was oversubscribed and the Company accepted additional private placement funds. As at August 31, 2011, the Company had issued 2,599,849 units of the securities in consideration of funds received of $779,955.

 

During the fiscal year ended August 31, 2011, the Company issued 150,000 shares of common stock to an investor relations firm for services to be provided under contract. The fair value of the common stock on the day it was issued was $1.20 per share. Based on the fair value of the stock on the day of issuance, $180,000 was charged to investor relations expenses.  A further 1,000,000 shares were issued to the firm in the fiscal year ended August 31, 2012. The fair value of the common stock on the day it was issued was $0.12  per share. Based on the fair value of the stock on the day of issuance, $120,000 was charged to investor relations expenses.  The contract with the firm was cancelled in August, 2012.

 

During the period September 1, to October 17, 2011, the Company entered into a series of private placement agreements with various investors involving issuing units of securities at $0.30 per unit. Each unit consisted of one (1) share of common stock, par value $0.0001 per share and one (1) common stock

purchase warrant with an exercise price of $0.60 each, expiring July 31, 2013. The private placement was oversubscribed and the Company accepted additional private placement funds. On October 17, 2011 the Company issued 1,275,337 units of the securities in consideration of funds received of $382,601.

 

On December 1, 2011, the Company issued 650,000 units of securities to seven investors at $0.30 per unit for $195,000 cash, pursuant to a private placement agreement. Each unit consisted of one (1) share of common stock, par value $0.0001 per share and one (1) common stock purchase warrant with an exercise price of $0.60 each, expiring July 31, 2013.

 

On December 1, 2011, the Company issued 24,000 units of securities to an investor at $0.25 per unit for $6,000 cash pursuant to a private placement agreement.  Each unit consisted of one (1) share of common stock, par value $0.0001 per share and one (1) common stock purchase warrant with an exercise price of $0.60 each, expiring July 31, 2013.

 

On July 31, 3012, the Company issued 808,000 units of securities at $0.25 per unit for $202,000 cash pursuant to a private placement agreement. Each unit consisted of one (1) share of common stock, par value $0.0001 per share and one (1) common stock purchase warrant with an exercise price of $0.50 each, expiring March 31, 2014.