Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
May 31, 2021 |
May 31, 2020 |
May 31, 2021 |
May 31, 2020 |
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| OPERATING EXPENSES | ||||
| General and administrative | $ 1,074,166 | $ 389,195 | $ 2,462,300 | $ 1,226,324 |
| Professional fees | 226,042 | 303,524 | 868,293 | 785,133 |
| Research and development | 951,204 | 258,676 | 2,223,540 | 1,646,920 |
| Total Operating Expenses | 2,251,412 | 951,395 | 5,554,133 | 3,658,377 |
| Loss from Operations | (2,251,412) | (951,395) | (5,554,133) | (3,658,377) |
| OTHER INCOME | ||||
| Interest income | 636 | 204 | 1,456 | 1,198 |
| Net change in fair value of marketable securities | 984 | 2,319 | ||
| Change in fair value of derivative liabilities | 29,501 | |||
| Total other income | 1,620 | 204 | 3,775 | 30,699 |
| NET LOSS | (2,249,792) | (951,191) | (5,550,358) | (3,627,678) |
| OTHER COMPREHENSIVE INCOME (LOSS) | ||||
| Foreign currency translation adjustments | 1,483 | 34,547 | (14,379) | 60,310 |
| Total Other Comprehensive Income (Loss) | 1,483 | 34,547 | (14,379) | 60,310 |
| TOTAL COMPREHENSIVE LOSS | $ (2,248,309) | $ (916,644) | $ (5,564,737) | $ (3,567,368) |
| Basic and Diluted Loss per Common Share (in dollars per share) | $ (0.10) | $ (0.27) | $ (0.33) | $ (1.06) |
| Basic and Diluted Weighted Average Common Shares Outstanding (in shares) | 23,111,046 | 3,466,385 | 16,784,419 | 3,418,148 |
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- Definition Represents the change in fair value for the period of warrant derivative liability. No definition available.
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). No definition available.
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- Definition Amount of unrealized and realized gain (loss) on investment in marketable security, including other-than-temporary impairment (OTTI). No definition available.
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount after tax of other comprehensive income (loss) attributable to parent entity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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