3. Note Receivable and Put Payable	6 Months Ended
Feb. 28, 2017
Receivables [Abstract]
Note Receivable and Put Payable	As part of the acquisition of Apollo Media Network, Inc. (“Apollo”), on July 15, 2015, the Company assumed a note receivable from the principal of Apollo that is due at the payees’ discretion from two to nine years from the notes formation on August 31, 2014, resulting in a long term note receivable due to the company as of November 30, 2016, and August 31, 2016. The principal amount of the note receivable is expected to be paid through the exercise of the related Put Option payable that was also established at the same time The Company accrued interest on the note receivable through August 31, 2016, at an annualized rate of 1.59%, or $3,975. As of February 28, 2017, the Company has recorded bad debt expense of $3,975 and an allowance on the interest receivable, as the collectability of the interest is uncertain. As part of the acquisition of Apollo, the Company issued a put option to repurchase 1,400,000 shares of common stock from the principal of Apollo which is to be outstanding for the same period of time as the Note Receivable described above. The exercise price of the Put is stated as being the full satisfaction of the promissory note valued at $250,000 The Company has not delivered the 1,400,000 shares of common stock to the principal of Apollo, since the shares were to be returned to the Company upon the exercise of the Put Option. The note receivable for $250,000 and the Put payable for $250,000 are linked to one another and will offset each other once the principal of Apollo elects to exercise. Upon the exercise no cash will exchange hands but the asset and offsetting liability will be removed from the Companies records at that time.

3. Note Receivable and Put Payable

6 Months Ended

Feb. 28, 2017

As part of the acquisition of Apollo Media Network, Inc. (“Apollo”), on July 15, 2015, the Company assumed a note receivable from the principal of Apollo that is due at the payees’ discretion from two to nine years from the notes formation on August 31, 2014, resulting in a long term note receivable due to the company as of November 30, 2016, and August 31, 2016. The principal amount of the note receivable is expected to be paid through the exercise of the related Put Option payable that was also established at the same time The Company accrued interest on the note receivable through August 31, 2016, at an annualized rate of 1.59%, or $3,975. As of February 28, 2017, the Company has recorded bad debt expense of $3,975 and an allowance on the interest receivable, as the collectability of the interest is uncertain.

As part of the acquisition of Apollo, the Company issued a put option to repurchase 1,400,000 shares of common stock from the principal of Apollo which is to be outstanding for the same period of time as the Note Receivable described above. The exercise price of the Put is stated as being the full satisfaction of the promissory note valued at $250,000 The Company has not delivered the 1,400,000 shares of common stock to the principal of Apollo, since the shares were to be returned to the Company upon the exercise of the Put Option.

The note receivable for $250,000 and the Put payable for $250,000 are linked to one another and will offset each other once the principal of Apollo elects to exercise. Upon the exercise no cash will exchange hands but the asset and offsetting liability will be removed from the Companies records at that time.

Sibannac, Inc. 10-Q