RELATED PARTY TRANSACTIONS (Details Narrative) (USD $)
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3 Months Ended | 6 Months Ended | 19 Months Ended | ||||
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Feb. 28, 2013
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Feb. 29, 2012
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Feb. 28, 2013
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Feb. 29, 2012
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Feb. 28, 2013
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Nov. 30, 2012
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Aug. 22, 2011
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Related Party Transactions [Abstract] | |||||||
Stock Issued For Cash, Shares | 10,000,000 | 10,000,000 | |||||
Stock Issued For Cash, Value | $ 10,000 | $ 10,000 | |||||
Stock Issued For Cash, Price Per Share | $ 0.001 | $ 0.001 | |||||
Date of Resignations | 2011-10-26 | ||||||
Sale Of Stock Number Of Shares | 10,000,000 | ||||||
Date that the Aircraft Use Management Agreement With Elite Aviation VGT Entered | Sep. 01, 2011 | ||||||
Date that the Aircraft Use Management Agreement With Elite Aviation VGT LLC Terminated | Nov. 01, 2012 | ||||||
Date that the Helicopter Lease Agreement Entered | Nov. 01, 2012 | ||||||
Revenue Per Hobb Hour | 185 | ||||||
Description Of Leasing Arrangements |
During the first quarter of fiscal year 2013, Elite had the authority to adjust the end user rental rate from time to time to allow for fluctuations in operating costs. During the six months ended February, 28, 2013 the Company recognized an average rental rate was $203.55. Prior to November 1, 2012, all repairs were at the Companys expense and billed by Elite at a rate congruent with the average local rate, subsequent to November 1, 2012 the lessee paid for these expenses. Also prior to November 1, 2012, parts required to be purchased by Elite for repair and maintenance were charged back to the Company and subsequent to November 1, 2012 the lessee is responsible for these types of charges. In addition, the Company was responsible for payment of all debt service, applicable property and other taxes, license and registration fees; hangar parking rate of $350 per month; fuel and regular operating oil, calculated using the actual VGT field delivery rate of Elite prior to November 1, 2012. Also prior to November 1, 2012, management fees were paid as a percentage of gross revenue based upon the billable Hobbs hours each month as follows: 1) 0 to 10 hours =15% of gross revenue, 2) 11 to 25 hours =17%, and 3) 26 + hours =19%. |
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Average rental rate | 204 | ||||||
Revenue | 32,560 | 35,967 | 65,524 | 49,716 | 178,310 | ||
Aircraft fees | 9,880 | ||||||
Fuel | (3,502) | 8,621 | 8,435 | 10,038 | 35,705 | ||
Management fees | (2,899) | 6,746 | 4,853 | 9,071 | 24,646 | ||
Costs of operations | $ 23,168 |