Condensed Consolidated Balance Sheets (Unaudited) - Scenario, Unspecified [Domain] - USD ($)	May. 31, 2015	Aug. 31, 2014
Convertible Term Notes Payable and Accrued Interest [Member]
CURRENT LIABILITIES
Convertible demand notes payable and accrued interest	$ 5,217,111	$ 3,100,361
Convertible term notes payable and accrued interest, net of unamortized discounts	$ 5,217,111	3,100,361
Convertible term notes payable		843,787
Related Party Convertible Demand Notes Payable and Accrued Interest [Member]
CURRENT LIABILITIES
Related party convertible demand notes payable and accrued interest	$ 3,048,815	106,986
Related party convertible term notes payable and accrued interest, net of unamortized discounts	3,048,815	106,986
Related party convertible term notes payable and accrued interest, net of unamortized discounts	1,285,352	2,820,106
Cash and cash equivalents	236,994	146,200
Accounts receivable, net of allowances	188,348	78,422
Inventory, Net	685,034	793,332
Prepaid expenses and other assets	$ 18,940	45,062
Deferred financing costs		5,506
Total current assets	$ 1,129,316	1,068,522
Property and equipment, net of accumulated depreciation	34,507	65,817
Intangible assets, net of accumulated amortization	544,887	596,977
Inventory, net of reserves	368,617	565,146
Deposits	30,000	30,000
Total other assets	943,504	1,192,123
TOTAL ASSETS	2,107,327	2,326,462
Convertible demand notes payable and accrued interest	29,615	30,163
Related party convertible demand notes payable and accrued interest	1,273,407	1,192,187
Accounts payable and accrued expenses	1,878,269	1,865,282
Deferred compensation	347,126	261,814
Deferred revenue	2,050	29,691
Advances from officer and accrued interest	113,155	106,872
Convertible term notes payable and accrued interest, net of unamortized discounts	29,615	30,163
Related party convertible term notes payable and accrued interest, net of unamortized discounts	1,273,407	1,192,187
Current portion of term loans and accrued interest	1,138,098	1,618,462
Total current liabilities	$ 13,047,646	8,311,818
Term loans		333,333
TOTAL LIABILITIES	$ 14,332,998	$ 12,309,044
Commitments and contingencies
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock, $0.001 par value, 10,000,000 shares authorized; no shares issued or outstanding
Common stock, $0.001 par value; 450,000,000 shares authorized; 277,530,645 and 241,095,488 shares issued and outstanding at May 31, 2015 and August 31, 2014, respectively	$ 277,531	$ 241,096
Additional paid-in capital	$ 51,539,123	51,036,456
Prepaid services paid in common stock		(48,225)
Accumulated deficit	$ (64,042,325)	(61,211,909)
Total stockholders' equity (deficit)	(12,225,671)	(9,982,582)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 2,107,327	$ 2,326,462

Location Based Technologies, Inc. 10-Q