Transition report pursuant to Rule 13a-10 or 15d-10

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Aug. 31, 2021
Aug. 31, 2020
Current Assets      
Cash and cash equivalents $ 12,162,000 $ 6,629,000 $ 2,142,000
Marketable securities 11,951,000 3,436,000 0
Prepaid expenses and other current assets 496,000 252,000 195,000
Total Current Assets 24,609,000 10,317,000 2,337,000
Intangible asset 2,039,000 2,039,000 2,039,000
Available-for-sale securities (amortized cost of $1,524, $0 and $0, respectively) 1,519,000 0 0
Operating lease right-of-use asset 81,000 90,000 0
Prepaid expenses and deposit 3,000 189,000 0
TOTAL ASSETS 28,251,000 12,635,000 4,376,000
Current Liabilities      
Accounts payable and accrued liabilities 975,000 471,000 489,000
Due to related parties 21,000 27,000 12,000
Operating lease liability - current portion 31,000 28,000 0
Total Current Liabilities 1,027,000 526,000 501,000
Operating lease liability 57,000 67,000 0
TOTAL LIABILITIES 1,084,000 593,000 501,000
Preferred Stock, par value $0.001, 6,250,000 shares authorized, 0 shares issued and outstanding 0 0 0
Common Stock, par value $0.001, 750,000,000 shares authorized, 42,301,013, 24,526,703 and 4,991,587 shares issued and outstanding, respectively 42,000 25,000 5,000
Additional paid-in capital 48,081,000 28,902,000 13,272,000
Accumulated deficit (20,938,000) (16,903,000) (9,466,000)
Accumulated other comprehensive income (loss) (18,000) 18,000 64,000
Total Stockholders' Equity 27,167,000 12,042,000 3,875,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 28,251,000 $ 12,635,000 $ 4,376,000