RELATED PARTY TRANSACTIONS	3 Months Ended
Nov. 30, 2011
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 5 – RELATED PARTY TRANSACTIONS During the three month period ended November 30, 2011, the Company received $53 in additional cash loans from various related parties, and had $9,058 in expenses paid on its behalf by related parties. The Company made cash payments on these notes totaling $32,349 during the three months ended November 30, 2011. Total related party notes payable as of November 30, 2011 were $128,479. Of this total, $24,413 are unsecured, bear interest at 8 percent per annum, and is due on demand. The remaining $104,066 is unsecured, bears no interest, and is due on demand. As of August 31, 2011, the Company owes accrued salaries to officers and employees of $214,932.

RELATED PARTY TRANSACTIONS

3 Months Ended

Nov. 30, 2011

NOTE 5 – RELATED PARTY TRANSACTIONS

During the three month period ended November 30, 2011, the Company received $53 in additional cash loans from various related parties, and had $9,058 in expenses paid on its behalf by related parties. The Company made cash payments on these notes totaling $32,349 during the three months ended November 30, 2011.

Total related party notes payable as of November 30, 2011 were $128,479. Of this total, $24,413 are unsecured, bear interest at 8 percent per annum, and is due on demand. The remaining $104,066 is unsecured, bears no interest, and is due on demand.

As of August 31, 2011, the Company owes accrued salaries to officers and employees of $214,932.

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

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Reference 2: http://www.xbrl.org/2003/role/presentationRef

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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-Name Statement of Financial Accounting Standard (FAS)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

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Reference 5: http://www.xbrl.org/2003/role/presentationRef

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Reference 8: http://www.xbrl.org/2003/role/presentationRef

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Reference 9: http://www.xbrl.org/2003/role/presentationRef

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+ Details

Flameret, Inc. 10-Q/A