Annual report pursuant to Section 13 and 15(d)

DERIVATIVE LIABILITY AND FAIR VALUE MEASUREMENTS (Tables)

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

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

 

 

 

 

 

 

Change in fair value for the period of warrant derivative liability

 

 

 (29,501 )

Fair value – August 31, 2020

 

 $ —

 
Summary of pricing model of estimate fair value of derivative liability

 

 

Year Ended

 

 

 

August 31,

 

 

 

2019

 

Assumptions for Pricing Model:

 

 

 

Expected term in years

 

 

 0.46

 

Volatility

 

 

 127 %

Risk-free interest rate

 

1.42%-2.10

%

Expected annual dividends

 

 

 0 %