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

DERIVATIVE LIABILITY AND FAIR VALUE MEASUREMENTS (Tables)

v3.20.2
DERIVATIVE LIABILITY AND FAIR VALUE MEASUREMENTS (Tables)
 9 Months Ended 12 Months Ended
May 31, 2020
Aug. 31, 2019
Derivative Liability And Fair Value Measurements [Abstract]    
Schedule of fair value of warrant liability

Fair value – August 31, 2019

 

 $ 29,501

 

 

 

 

 

 

Change in fair value for the period of warrant derivative liability

 

 

 (29,501

)

Fair value – May 31, 2020

 

 

 —  

Fair value – August 31, 2018

 

 $ —

 

 

 

 

 

 

Reclass of warrant derivative liability from equity

 

 

 1,035,600

 

Change in fair value for the period of warrant derivative liability

 

 

 (1,006,099 )

Fair value – August 31, 2019

 

 

 29,501

 
Summary of pricing model of estimate fair value of derivative liability  

 

 

Year Ended

August 31,

2019

 

 

Year Ended

August 31,

2018

 

Assumptions for Pricing Model:

 

 

 

 

 

 

Expected term in years

 

 

 0.46

 

 

 

 —

 

Volatility

 

 

 127 %

 

 

 —

 

Risk-free interest rate

 

1.42%-2.10

 %

 

 

 —

 

Expected annual dividends

 

 

 0 %

 

 

 —