v3.5.0.2

Condensed Consolidated Balance Sheets - USD ($)	Nov. 30, 2015	Aug. 31, 2015
Current assets:
Cash	$ 4,626	$ 14,601
Total current assets	4,626	14,601
Other assets:
Customer lists, net	118,822	129,622
Total assets	123,448	144,223
Current liabilities:
Accounts payable and accrued expenses	282,076	274,807
Accrued salary –related parties	327,500	327,500
Convertible notes payable –net of discounts	878,175	818,080
Note payable	615,385	615,385
Advances payable, related party	5,600	3,300
Loans payable, related party	37,065	36,965
Derivative liability	475,200	424,592
Deferred revenue	46,243	46,243
Total current liabilities	2,667,234	2,546,872
Commitments and contingencies
STOCKHOLDERS’ DEFICIT
Common stock, $0.001 par value 1,875,000,000 shares authorized; 1,875,000,000 and 1,808,001,287 shares issued and outstanding as of November 30, 2015 and August 31, 2015, respectively	1,825,000	1,688,002
Common stock subscribed not issued 50,001,287 and 120,000,000 shares, respectively	50,000	120,000
Additional paid in capital	1,300,516	1,367,515
Accumulated deficit	(5,719,302)	(5,578,166)
Total stockholders’ deficit	(2,543,786)	(2,402,649)
Total liabilities and stockholders’ deficit	123,448	144,223
Series A Preferred Stock [Member]
STOCKHOLDERS’ DEFICIT
Preferred Stock Value

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

iTalk Inc. 10-Q/A