I took the time to read the last 10K and the loans sections.
page F-6, "The Company has outstanding loans and convertible notes payable aggregating $3.7 million at August 31, 2024"
Checking the details as per page F-2:
Loans payable 3.161K + Officers Loans 46K + Convertible debenture 517K
page F-10 : "The loans payables are generally due on demand and have not been called, are unsecured, and are bearing interest at a range of 0-12%., with the exception of one loan payable to a financial institution."
page F-11
The convertible debentures matured in 2015, and bear interest at ranges between 6% and 15%. The convertible debentures are convertible at ratios varying between 45% and 50% of the closing price at the date of conversion through, at its most favorable terms for the holders, the average of the three lowest closing bids for a period of 5-30 days prior to conversion.
No convertible debentures have been issued since 2015 and none executed since 2016. Certain settlements with holders of convertible debentures have been agreed since 2018 to the Company’s benefit."
and
"The Company owes $1,109,178 and $1,313,536 as of August 31, 2024 and 2023, respectively, in accrued compensation and expenses to certain directors and consultants. The amounts are non-interest bearing."
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