General form of registration statement for all companies including face-amount certificate companies

EQUITY (Tables)

v3.19.1
EQUITY (Tables)
 6 Months Ended 12 Months Ended
Feb. 28, 2019
Aug. 31, 2018
Equity [Abstract]    
Summary of activity warrants outstanding

 

 

 

 

 

 Weighted

 

 

Weighted

 

 

 

Number of

 

 

Average

 

 

Average

 

 

 

shares

 

 

Exercise Price

 

 

Life (years)

 

Outstanding, August 31, 2018

 

 

 3,962,293

 

 

 $ 1.30

 

 

 

 4.23

 

Granted

 

 

 1,677,196

 

 

 

 1.75

 

 

 

 5

 

Forfeited

 

 

 -

 

 

 

 -

 

 

 

 -

 

Exercised

 

 

 -

 

 

 

 -

 

 

 

 -

 

Outstanding, February 28, 2019

 

 

 5,639,489

 

 

 $ 1.43

 

 

 

 4.04

 
 
Summary of stock option activity

 

 

Options Outstanding

 

 

 

 

 

Number of

 

 

Weighted Average

 

 

Fair Value

 

 

 

Options

 

 

Exercise Price

 

 

on Grant Date

 

Outstanding, August 31, 2018

 

 

 400,000

 

 

 $ 1.35

 

 

 $ 536,688

 

Granted

 

 

 -

 

 

 

 -

 

 

 

 -

 

Exercised

 

 

 -

 

 

 

 -

 

 

 

 -

 

Forfeited/canceled

 

 

 -

 

 

 

 -

 

 

 

 -

 

Outstanding, February 28, 2019

 

 

 400,000

 

 

 $ 1.35

 

 

 $ 536,688

 
 
Summary of exercisable stock options outstanding

Options Outstanding

 

 

Options Exercisable

 

 

 

Weighted

Average

Remaining

 

 

Weighted

Average

 

 

 

 

 

Weighted

Average

 

Number of

Options

 

 

Contractual life

(in years)

 

 

Exercise

Price

 

 

Number of

Shares

 

 

Exercise

Price

 

 

400,000

 

 

 

 9.47

 

 

 $ 1.35

 

 

 

 108,560

 

 

 $ 1.35

 
 
Schedule of assumptions to value the stock options  

Name

 

Number of

Shares

 

 

Exercise

Price

 

 

Vesting

Commencement

Date

 

Expiration

Date

 

Vesting

Schedule

 

Saoirse O’Sullivan

 

 

100,000

 

 

 $ 1.35

 

 

August 17, 2018

 

August 17, 2028

 

 

(1)

R. Martin Emanuele, Ph.D.

 

 

100,000

 

 

 $ 1.35

 

 

August 17, 2018

 

August 17, 2028

 

 

(1)

Andy Yates, Ph.D.

 

 

100,000

 

 

 $ 1.35

 

 

August 17, 2018

 

August 17, 2028

 

 

(1)

Steven D. Reich, M.D.

 

 

100,000

 

 

 $ 1.35

 

 

April 1, 2018

 

August 17, 2028

 

 

(2)

Total option grants:

 

 

400,000

 

 

 

 

 

 

 

 

 

 

 

 

 

_______________

(1)

Twenty-five percent (25%) of the Shares subject to the Option shall vest on the Vesting Commencement Date, and one forty-eighth (1/48th) of the Shares subject to the Option shall vest each month thereafter on the same day of the month as the Vesting Commencement Date.

(2)

The number of Shares that will vest upon the first day following the end of such Vesting Period (a “Vesting Date”) will equal (i) the lesser of (a) the number of hours that the Company’s Chief Executive Officer certifies Participant provided the Services during such Vesting Period or (b) 60, multiplied by (ii) a number of Shares equal to 350 divided by the exercise price per Share of the option. “Vesting Period” means each three-month period during the term of the consulting agreement, beginning on the Vesting Commencement Date.