Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Aug. 31, 2015 | Feb. 28, 2015 | |
Document Type | 10-K | |
Amendment Flag | false | |
Document Period End Date | Aug. 31, 2015 | |
Trading Symbol | lxrp | |
Entity Registrant Name | LEXARIA CORP. | |
Entity Central Index Key | 1,348,362 | |
Current Fiscal Year End Date | --10-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 39,852,984 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well Known Seasoned Issuer | No | |
Entity Public Float | $ 2,630,177 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | FY |
CONSOLIDATED BALANCE SHEET
CONSOLIDATED BALANCE SHEET - USD ($) | Aug. 31, 2015 | Aug. 31, 2014 |
Current | ||
Cash and cash equivalents | $ 260,075 | $ 703,030 |
Accounts receivable | 31,382 | 97,003 |
Inventory | 167,986 | 0 |
Assets Held For Sale | 0 | 1,400,000 |
Prepaid expenses and deposit | 215,290 | 367,441 |
Total Current Assets | 674,733 | 2,567,474 |
Patent | 36,989 | 0 |
Medical Marijuana Investments | 0 | 67,662 |
Total Noncurrent Assets | 36,989 | 67,662 |
TOTAL ASSETS | 711,722 | 2,635,136 |
Current | ||
Accounts payable and accrued liabilities | 33,073 | 93,553 |
Loan payable | 0 | 776,936 |
Share Subscriptions Receivable | 0 | 45,780 |
Due to a related party | 22,052 | 1,769 |
Total Current Liabilities | 55,125 | 918,038 |
TOTAL LIABILITIES | 55,125 | 918,038 |
STOCKHOLDERS' EQUITY | ||
Share Capital Authorized: 200,000,000 common voting shares with a par value of $0.001 per share Issued and outstanding: 39,852,984 common shares at August 31, 2015 and 34,249,690 common shares at August 31, 2014 | 39,852 | 34,249 |
Additional paid-in capital | 10,818,446 | 10,033,438 |
Shares to be returned | 0 | (35,200) |
Deficit | (10,085,889) | (8,315,389) |
Equity attributable to shareholders of the Company | 772,409 | 1,717,098 |
Non-Controlling Interest | (115,812) | 0 |
Total Stockholders' Equity | 656,597 | 1,717,098 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 711,722 | $ 2,635,136 |
CONSOLIDATED BALANCE SHEET (Par
CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares | Aug. 31, 2015 | Aug. 31, 2014 |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Par Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares, Issued | 39,852,984 | 34,249,690 |
Common Stock, Shares, Outstanding | 39,852,984 | 34,249,690 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Aug. 31, 2015 | Aug. 31, 2014 | |
Revenue | ||
Sales | $ 14,702 | $ 0 |
Cost of Goods Sold | 29,883 | 0 |
Gross profit (loss) | (15,181) | 0 |
Expenses | ||
Accounting and audit | 52,823 | 47,448 |
Insurance | 10,095 | 5,777 |
Advertising and promotions | 276,560 | 91,683 |
Bank charges and exchange loss | 850 | (29,058) |
Stock Based Compensation | 256,051 | 97,002 |
Consulting | 835,655 | 847,660 |
Fees and Dues | 54,104 | 41,398 |
Interest expense from loan payable | 31,544 | 165,790 |
Investor relation | 18,000 | 2,738 |
Legal and professional | 45,928 | 11,511 |
Office and miscellaneous | 18,833 | 11,625 |
Research and Development | 146,466 | 0 |
Rent | 85,650 | 54,438 |
Telephone | 8,105 | 4,375 |
Taxes | 3,578 | 5,248 |
Travel | 101,183 | 50,400 |
MMJ expense | 22,664 | 151,306 |
Total operating Expenses | 1,968,089 | 1,559,341 |
(Loss) for the period before other income | (1,983,270) | (1,559,341) |
Income (Loss) from discontinued operations | 48,918 | (1,698,371) |
Net (loss) from operations | (1,934,352) | (3,257,712) |
Net (loss) attributable to: | ||
Common Shareholders | (1,770,500) | 0 |
Non-Controlling Interest | $ (163,852) | $ 0 |
Basic and diluted (loss) per share | $ (0.05) | $ (0.14) |
Weighted average number of common shares outstanding | ||
- Basic and diluted | 36,091,674 | 23,369,940 |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) | 12 Months Ended | |
Aug. 31, 2015 | Aug. 31, 2014 | |
Cash flows used in operating activities | ||
Net (loss) for the period | $ (1,983,270) | $ (1,559,341) |
Income (loss) from discontinued operations | 48,918 | (1,698,371) |
Net (loss) from operations | (1,934,352) | (3,257,712) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock based compensation | 256,051 | 97,002 |
Shares issued for rent | 0 | 35,750 |
Shares issued for services | 0 | 551,325 |
Depletion | 0 | 161,112 |
Write-off of oil and gas properties | 0 | 1,879,007 |
Research and development | 73,040 | 0 |
MMJ Joint Venture | 22,662 | 140,000 |
Consulting fee | 127,300 | 0 |
Change in operating assets and liabilities: | ||
(Increase)/Decrease in accounts receivable | 65,620 | (21,440) |
(Increase)/Decrease in inventory | (167,985) | 0 |
(Increase)/ Decrease in prepaid expenses and deposit | 96,834 | (58,141) |
Increase in accounts payable and accrued liabilities | (60,480) | (42,720) |
Due to related parties | 20,283 | 0 |
Net cash used in operating activities | (1,501,027) | (515,817) |
Cash flows used in investing activities | ||
Oil and gas property acquisition and exploration costs | 0 | (68,624) |
Proceeds from sale of oil and gas property | 721,806 | 0 |
Patent | (36,989) | 0 |
Medical Marijuana Investments | 0 | (7,662) |
Net cash used in investing activities | 684,817 | (76,286) |
Cash flows from financing activities | ||
Payments of loan payable | (98,742) | (306,893) |
Proceeds from private placement, convertible debt, | 471,997 | 0 |
and option exercise | 0 | 1,536,484 |
Net cash from financing Activities | 373,255 | 1,229,591 |
Increase (Decrease) in cash and cash equivalents | (442,955) | 637,488 |
Cash and cash equivalents, beginning of year | 703,030 | 65,542 |
Cash and cash equivalents, end of year | 260,075 | 703,030 |
Supplemental information of cash flows: | ||
Interest paid in cash | 98,742 | 165,790 |
Income taxes paid in cash | $ 0 | $ 0 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND COMPREHENSIVE INCOME - USD ($) | COMMON STOCK [Member] | ADDITIONAL PAID-IN CAPITAL [Member] | SHARES TO BE REFUND [Member] | DEFICIT [Member] | NON CONTROLLING INTEREST [Member] | Total |
Beginning Balance at Oct. 31, 2013 | $ 16,432 | $ 7,140,148 | $ (5,057,677) | $ 0 | $ 2,098,903 | |
Beginning Balance (Shares) at Oct. 31, 2013 | 16,431,452 | |||||
Shares issued for PP @ $0.06 | $ 500 | 29,500 | 30,000 | |||
Shares issued for PP @ $0.06 (Shares) | 500,000 | |||||
Shares issued for services @ $0.10 | $ 1,500 | 178,500 | 180,000 | |||
Shares issued for services @ $0.10 (Shares) | 1,500,000 | |||||
Shares issued for services @ $0.40 | $ 150 | 62,850 | 63,000 | |||
Shares issued for services @ $0.40 (Shares) | 150,000 | |||||
Shares issued for services @ $0.60 | $ 21 | 12,479 | 12,500 | |||
Shares issued for services @ $0.60 (Shares) | 20,833 | |||||
Shares issued for PP @ $0.12 | $ 11,420 | 1,246,735 | 1,258,155 | |||
Shares issued for PP @ $0.12 (Shares) | 11,419,999 | |||||
Shares issued for option exercise @ $0.35 | $ 50 | 17,450 | 17,500 | |||
Shares issued for option exercise @ $0.35 (Shares) | 50,000 | |||||
Stock Options issued @ $0.60 | 26,112 | 26,112 | ||||
Shares issued for debt conversion @$0.35 | $ 552 | 192,781 | 193,333 | |||
Shares issued for debt conversion @$0.35 (Shares) | 552,380 | |||||
Shares issued per LOI @ $0.40 | $ 555 | 221,445 | 222,000 | |||
Shares issued per LOI @ $0.40 (Shares) | 555,000 | |||||
Shares issued per agreement @ $0.39 | $ 110 | 42,790 | 42,900 | |||
Shares issued per agreement @ $0.39 (Shares) | 110,000 | |||||
Shares issued per agreement @ $0.32 | $ 550 | 175,450 | 176,000 | |||
Shares issued per agreement @ $0.32 (Shares) | 550,000 | |||||
Stock Options issued @ $0.25 | 183,432 | 183,432 | ||||
Shares issued for option exercise @ $0.10 | $ 50 | 4,950 | 5,000 | |||
Shares issued for option exercise @ $0.10 (Shares) | 50,000 | |||||
Shares issued per agreement @ $0.30 | $ 55 | 16,445 | 16,500 | |||
Shares issued per agreement @ $0.30 (Shares) | 55,000 | |||||
Shares issued per agreement @ $0.26 | $ 880 | 263,120 | 264,000 | |||
Shares issued per agreement @ $0.26 (Shares) | 880,000 | |||||
Shares issued per LOI @ $0.30 | $ 92 | 27,408 | 27,500 | |||
Shares issued per LOI @ $0.30 (Shares) | 91,662 | |||||
Shares issued per agreement @ $0.16 | $ 82 | 13,043 | 13,125 | |||
Shares issued per agreement @ $0.16 (Shares) | 82,031 | |||||
Shares issued for PP @ $0.15 | $ 1,250 | 178,800 | 180,050 | |||
Shares issued for PP @ $0.15 (Shares) | 1,251,333 | |||||
Shares to be cancelled | $ (35,200) | (35,200) | ||||
Comprehensive income (loss) for the period | (3,257,712) | (3,257,712) | ||||
Ending Balance at Aug. 31, 2014 | $ 34,249 | 10,033,438 | (35,200) | (8,315,389) | 0 | 1,717,098 |
Ending Balance (Shares) at Aug. 31, 2014 | 34,249,690 | |||||
Shares Cancelled 1 | $ (110) | (35,090) | $ 35,200 | |||
Shares Cancelled (Shares) | (110,000) | |||||
Shares issued for PP @ $0.15 | $ 305 | 45,475 | 45,780 | |||
Shares issued for PP @ $0.15 (Shares) | 305,200 | |||||
Non-controlling Interest | (115,812) | (115,812) | ||||
Shares issued per agreement @$0.105 | $ 238 | 24,762 | 25,000 | |||
Shares issued per agreement @$0.105 (Shares) | 238,094 | |||||
Stock Options issued @ $0.11 and $0.10 | 144,199 | 144,199 | ||||
Shares issued for PP @$0.10 | $ 5,000 | 462,100 | 467,100 | |||
Shares issued for PP @$0.10 (Shares) | 5,000,000 | |||||
Stock Options issued @$0.10 | 52,801 | 52,801 | ||||
Shares cancelled 2 | $ (500) | (44,500) | (45,000) | |||
Shares cancelled 2 (Shares) | (500,000) | |||||
Shares issued per agreement @ $0.19 | $ 250 | 47,250 | 47,500 | |||
Shares issued per agreement @ $0.19 (Shares) | 250,000 | |||||
Shares issued per agreement @ $0.20 | $ 420 | 83,112 | 83,532 | |||
Shares issued per agreement @ $0.20 (Shares) | 420,000 | |||||
Return of commission from previous PP | 4,899 | 4,899 | ||||
Comprehensive income (loss) for the period | (1,770,500) | (1,770,500) | ||||
Ending Balance at Aug. 31, 2015 | $ 39,852 | $ 10,818,446 | $ (10,085,889) | $ (115,812) | $ 656,597 | |
Ending Balance (Shares) at Aug. 31, 2015 | 39,852,984 |
Organization and Business
Organization and Business | 12 Months Ended |
Aug. 31, 2015 | |
Organization and Business [Text Block] | 1. Organization and Business The Company was formed on December 9, 2004 under the laws of the State of Nevada and commenced operations on December 9, 2004. The Company is an independent natural gas and oil company engaged in the exploration, development and acquisition of oil and gas properties in the United States and Canada. The Company’s entry into the oil and gas business began on February 3, 2005. During the period ended November 30, 2014, the Company discontinued oil and gas business through Purchas and Sale Agreement signed with Cloudstream Belmont Lake, LP on November 26, 2014. In March of 2014, the Company began its entry into the medicinal marijuana and alternative health and wellness business. This change of business was approved by the Company’s shareholders during its Annual General Meeting held on June 11, 2014. The Company has offices in Vancouver and Kelowna, BC, Canada. On August 7, 2014, the Company’s board of directors approved changing its year end from October 31 to August 31. These consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has recurring operating losses and required additional funds to maintain its operations. Management’s plans in this regard are to raise equity and/or debt financing as required until such time as operations are profitable. The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has a net loss of $1,934,352 for the year ended August 31, 2015 (August 31, 2014: $3,257,712) and at August 31, 2015 had a deficit accumulated since its inception of $10,085,889 (August 31, 2014: $8,315,389). The Company has working capital surplus of $619,608 as at August 31, 2015 (August 31, 2014 working capital surplus: $1,649,436). The Company requires additional funds to maintain its existing operations and developments. These conditions raise substantial doubt about our Company’s ability to continue as a going concern. Management’s plans in this regard are to raise equity and debt financing as required, but there is no certainty that such financing will be available or that it will be available at acceptable terms. The outcome of these matters cannot be predicted at this time and the financing environment is difficult. These consolidated financial statements do not include any adjustments to reflect the future effects on the recoverability and classification of assets or the amounts and classification of liabilities that might result from the outcome of this uncertainty. |
Business Risk and Liquidity
Business Risk and Liquidity | 12 Months Ended |
Aug. 31, 2015 | |
Business Risk and Liquidity [Text Block] | 2. Business Risk and Liquidity The Company is subject to several categories of risk associated with its operating activities. The production and sale alternative health products are emerging industries in which business practices are not yet standardized and are subject to frequent scrutiny and evaluation by federal, state, provincial, and municipal authorities, academics, and media outlets, among others, Although we intend to develop our businesses in accordance with best ethical practices, we may suffer negative publicity if we, our partners, contractors, or customers are found to have engaged in any environmentally insensitive practices or other business practices that are viewed as unethical. Our operations may require licenses and permits from various governmental authorities. We believe that we will be able to obtain all necessary licenses and permits under applicable laws and regulations for our operations and believe we will be able to comply in all material respects with the terms of such licenses and permits. However, such licenses and permits are subject to change in various circumstances. There can be no guarantee that we will be able to obtain or maintain all necessary licenses and permits, and failing to obtain or retain required licenses could have a materially adverse effect on the Company. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Aug. 31, 2015 | |
Significant Accounting Policies [Text Block] | 3. Significant Accounting Policies a) Basis of Consolidation The consolidated financial statements include the financial statements of the Company, its wholly-owned subsidiary, Lexaria CanPharm Corp. which was incorporated on April 4, 2014 under the laws of Canada, and 51%-owned subsidiary Poviva Tea, LLC which was incorporated on December 12, 2014, under the laws of the State of Nevada. All significant inter-company balances and transactions have been eliminated. b) Principles of Accounting These consolidated financial statements are stated in U.S. dollars and have been prepared in accordance with U.S. generally accepted accounting principles. c) Revenue Reconition The Company uses the sales method of accounting for natural gas and oil revenues. Under this method, revenues are recognized upon the passage of title, net of royalties. Revenues from natural gas production are recorded using the sales method. When sales volumes exceed the Company’s entitled share, an overproduced imbalance occurs. To the extent the overproduced imbalance exceeds the Company’s share of the remaining estimated proved natural gas reserves for a given property, the Company records a liability. At August 31, 2015 and October 31, 2014, the Company had no overproduced imbalances. Revenue from the sale of helth products is generally recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the sales price is fixed or determinable, and collectability is reasonably assured. In most cashes, these condition are met when the product is shipped to the customer or services have been rendered. The Company reports its sales net of the amount of actual sales returns and the amount of reserves established for anticipated sales returns based upon historical return rates. Sales tax collected from customers is excluded from net sales in the accompanying consolidated statements of income. d) Inventories and Cost of Sales The Company has two major classes of inventory: finished goods and raw materials. In all classes, inventory is valued at the lower of cost or market. Cost is determined on a first-in, first-out basis. Cost of sales includes all expenditures incurred in bringing the goods to the point of sale. Inventory costs and costs of sales include direct costs of the raw material, inbound freight charges, warehousing costs, handling costs (receiving and purchasing) and utilities and overhead expenses related to the Company’s manufacturing and processing facilities. e) Cash and Cash Equivalents Cash equivalents comprise certain highly liquid instruments with a maturity of three months or less when purchased. As of August 31, 2015 and August 31, 2014, cash and cash equivalents consist of cash only. f) Patents Capitalized patent costs represent legal costs incurred to establish patents. When patents reach a mature stage, any associated legal costs are comprised mostly of maintenance fees and costs of national applications and are expensed as incurred. Capitalized patent costs are amortized on a straight line basis over the remaining life of the patent. In the fiscal year ended August 31, 2015, the Company has not completed the patents application. g) Oil and Gas Properties The Company utilizes the full cost method to account for its investment in oil and gas properties. Accordingly, all costs associated with acquisition, exploration and development of oil and gas reserves, including such costs as leasehold acquisition costs, capitalized interest costs relating to unproved properties, geological expenditures, tangible and intangible development costs including direct internal costs are capitalized to the full cost pool. When the Company obtains proven oil and gas reserves, capitalized costs, including estimated future costs to develop the reserves and estimated abandonment costs, net of salvage, will be depleted on the units-of-production method using estimates of proved reserves. Investments in unproved properties are not depleted pending determination of the existence of proved reserves. Unproved properties are assessed periodically to ascertain whether impairment has occurred. Unproved properties whose costs are individually significant are assessed individually by considering the primary lease terms of the properties, the holding period of the properties, and geographic and geologic data obtained relating to the properties. Where it is not practicable to assess individually the amount of impairment of properties for which costs are not individually significant, such properties are grouped for purposes of assessing impairment. The amount of impairment assessed is added to the costs to be amortized, or is reported as a period expense, as appropriate. Pursuant to full cost accounting rules, the Company must perform a ceiling test periodically on its proved oil and gas assets. The ceiling test provides that capitalized costs less related accumulated depletion and deferred income taxes for each cost center may not exceed the sum of (1) the present value of future net revenue from estimated production of proved oil and gas reserves using current prices, excluding the future cash outflows associated with settling asset retirement obligations that have been accrued on the balance sheet, at a discount factor of 10%; plus (2) the cost of properties not being amortized, if any; plus (3) the lower of cost or estimated fair value of unproved properties included in the costs being amortized, if any; less (4) income tax effects related to differences in the book and tax basis of oil and gas properties. Should the net capitalized costs for a cost center exceed the sum of the components noted above, an impairment charge would be recognized to the extent of the excess capitalized costs. Sales of proved and unproved properties are accounted for as adjustments of capitalized costs with no gain or loss recognized, unless such adjustments would significantly alter the relationship between capitalized costs and proved reserves of oil and gas, in which case the gain or loss is recognized in the statement of operations. Exploration activities conducted jointly with others are reflected at the Company’s proportionate interest in such activities. Cost related to site restoration programs are accrued over the life of the project. h) Stock-Based Compensation Company accounts for its stock-based compensation awards in accordance with ASC Topic 718, Compensation—Stock Compensation (“ASC 718”). ASC 718 requires all stock-based payments to employees, including grants of employee stock options, to be recognized as expense in the statements of operations based on their grant date fair values. For stock options granted to employees and to members of the Board of Directors for their services on the Board of Directors, the Company estimates the grant date fair value of each option award using the Black-Scholes option-pricing model. The use of the Black-Scholes option-pricing model requires management to make assumptions with respect to the expected term of the option, the expected volatility of the common stock consistent with the expected life of the option, risk-free interest rates and expected dividend yields of the common stock. Share-based payments issued to non-employees are recorded at their fair values, and are periodically revalued as the equity instruments vest and are recognized as expense over the related service period in accordance with the provisions of ASC 718 and ASC Topic 505, Equity. For equity instruments granted to non-employees, the Company recognizes stock-based compensation expense on a straight-line basis. i) Accounting Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires us to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Some of our accounting policies require us to make difficult and subjective judgments, often as a result of the need to make estimates of matters that are inherently uncertain. These accounting policies involve critical accounting estimates because they are particularly dependent on estimates and assumptions made by management about matters that are highly uncertain at the time the accounting estimates are made. Although we have used our best estimates based on facts and circumstances available to us at the time, different estimates reasonably could have been used. Changes in the accounting estimates we use are reasonably likely to occur from time to time, which may have a material effect on the presentation of our financial condition and results of operations. Our Significant accounting estimates and assumptions are used for, but not limited to: • useful lives of tangible and intangible assets; • the valuation of deferred tax assets; • share-based payment arrangements; • proved oil and gas reserves. We review our estimates, judgments and assumptions periodically and reflect the effects of revisions in the period in which they are deemed to be necessary. We believe that these estimates are reasonable; however, actual results could differ from these estimates j) Capital Assets The capital asset represents computer equipment which is carried at cost and is amortized over its estimated useful life of 3 years straight-line. Computer equipment is written down to its net realizable value if it is determined that its carrying value exceeds estimated future benefits to the Company. k) Loss Per Share Loss per share is computed using the weighted average number of shares outstanding during the period. The Company has adopted ASC 220 “ Earnings Per Share l) Foreign Currency Translations The Company’s operations are located in the United States of America and Canada, and it has offices in Canada. The Company maintains its accounting records in U.S. Dollars, as follows: At the transaction date, each asset, liability, revenue and expense that was acquired or incurred in a foreign currency is translated into U.S. dollars by the using of the exchange rate in effect at that date. At the period end, monetary assets and liabilities are translated at the exchange rate in effect at that date. The resulting foreign exchange gains and losses are included in operations. m) Financial Instruments ASC 820 “ Fair Value Measurements and Disclosures Level 1 - Quoted prices in active markets for identical assets or liabilities; The Company’s financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, loan payable and due to a related party. The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, loans payable and due to a related party approximate their fair values due to their short maturities. The carrying values of the Company‘s long-term debt approximate their fair values based upon a comparison of the interest rate and terms of such debt to the rates and terms of debt currently available to the Company. The Company is located in Canada, which results in exposure to market risks from changes in foreign currency rates. The financial risk is the risk to the Company’s operations that arise from fluctuations in foreign exchange rates and the degree of volatility of these rates. Currently, the Company does not use derivative instruments to reduce its exposure to foreign currency risk. n) Income Taxes The Company has adopted ASC 740, “ Income Taxes” o) Long-Lived Assets Impairment Long-term assets of the Company are reviewed for impairment when circumstances indicate the carrying value may not be recoverable in accordance with the guidance established in ASC 360, “ Property, Plant and Equipment p) Asset Retirement Obligations The Company accounts for asset retirement obligations in accordance with the provisions of ASC 410, “Asset Retirement and Environmental Obligations q) Comprehensive Income The Company has adopted ASC 220, “ Comprehensive Income” r) Credit risk and receivable Concentration The Company places its cash and cash equivalent with high credit quality financial institution. As of August 31, 2015, the Company had approximately $205,606 in a bank beyond insured limit (August 31, 2014: $551,673). s) Convertible Debentures The Company accounts for its convertible debt instruments that may be settled in cash upon conversion according to ASC 470-20-30-22 which requires the proceeds from the issuance of such convertible debt instruments to be allocated between debt and equity components so that debt is discounted to reflect the Company’s non-convertible debt borrowing rate. Further, the Company applies ASC 470-20-35-13 which requires the debt discount to be amortized over the period the convertible debt is expected to be outstanding as additional non-cash interest expense. t) Commitments and Contingencies In accordance with ASC 450-20, “Accounting for Contingencies”, the Company records accruals for such loss contingencies when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. In the event that estimates or assumptions prove to differ from actual results, adjustments are made in subsequent periods to reflect more current information. Historically, the Company has not experienced any material claims. u) Discontinued Operations The results of discontinued operations are presented separately, net of tax, from the results of ongoing operations for all periods presented. The expenses included in the results of discontinued operations are the direct operating expenses incurred by the disposed components that may be reasonably segregated from the costs of the ongoing operations of the Company. See Note 6 - Discontinued Operations for further detail. v) New Accounting Pronouncements On May 28, 2014, the Financial Accounting Standards Board (the “FASB”)and the International Accounting Standards Board (the “IASB”) issued substantially converged final standards on revenue recognition. The FASB's Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606), was issued in three parts: (a) Section A, “Summary and Amendments That Create Revenue from Contracts with Customers (Topic 606)and Other Assets and Deferred Costs-Contracts with Customers (Subtopic 340-40),” (b) Section B, “Conforming Amendments to Other Topics and Subtopics in the Codification and Status Tables” and (c) Section C, “Background Information and Basis for Conclusions.” The standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The new revenue recognition guidance becomes effective for the Company on January 1, 2017, and early adoption is not permitted. Entities have the option of using either a full retrospective or a modified approach to adopt the guidance in the ASU. The Company has not yet selected a transition method and is currently evaluating the effect that the updated standard will have on its consolidated financial statements and related disclosures. In April 2014, the FASB issued new guidance on the definition of a discontinued operation that requires entities to provide additional disclosures about disposal transactions that do not meet the discontinued operations criteria. The new guidance narrows the focus of discontinued operations to those components that are disposed of or classified as held-for-sale and that represent a strategic shift that has or will have a major impact on the entity’s operations or financial results. The guidance is effective prospectively for all disposals or components initially classified as held-for-sale in periods beginning on or after December 15, 2014. Early adoption is permitted. Upon adoption, the Company does not believe this guidance will have a material impact on its consolidated results of operations or financial position. In August 2014, the FASB issued new guidance on determining when and how to disclose going -concern uncertainties in the financial statements. The new guidance requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued. An entity must provide certain disclosures if conditions or events raise substantial doubt about its ability to continue as a going concern. The guidance is effective for annual periods ending after December 15, 2016 and interim periods thereafter. Early adoption is permitted. Upon adoption, the Company does not believe this guidance will have a material impact on its consolidated results of operations or financial position. In January 2015, the FASB issued ASU 2015-01, Income Statement-Extraordinary and Unusual Items (Subtopic 225-20), Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items, which eliminates the concept of extraordinary items. Under this new guidance, entities will no longer be required to separately classify, present and disclose extraordinary events and transactions. The amendments in this update are effective for annual and interim periods beginning after December 15, 2015. The Company is evaluating the impact of ASU 2015-01 and an estimate of the impact to the consolidated financial statements cannot be made at this time. In February 2015, the FASB issued ASU No. 2015-02, "Consolidation (Topic 810): Amendments to the Consolidation Analysis"("ASU 2015-02"). ASU 2015-02 makes several modifications to the consolidation guidance for variable interest entities ("VIEs") and general partners' investments in limited partnerships, as well as modifications to the evaluation of whether limited artnerships are VIEs or voting interest entities. It is effective for annual and interim periods beginning after December 15, 2015. Early adoption is permitted. In April 2015, FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). In August 2015, FASB issued ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements (“ASU 2015-15”). ASU 2015-03 will require that debt issuance costs be presented in the balance sheet as a deduction from the carrying amount of the debt. ASU 2015-15 allows an entity to present debt issuance costs associated with a revolving line of credit arrangement as an asset, regardless of whether a balance is outstanding. The recognition and measurement guidance for debt issuance costs are not affected by ASU 2015-03 or ASU 2015-15. These ASU’s are effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period, with early adoption permitted. ASU 2015-03 will require the Company to reclassify its deferred financing costs associated with its long-term debt from other assets to long-term debt on a retrospective basis. The new standard will not affect the Company’s results of operations or cash flows. In April 2015, FASB issued ASU 2015-04, Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets (“ASU 2015-04”). ASU 2015-04 allows employers with a fiscal year end that does not coincide with a calendar month end to make an accounting policy election to measure defined benefit plan assets and obligations as of the end of the month closest to their fiscal year end. ASU 2015-04 is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. Prospective application is required, and early adoption is permitted. In July 2015, FASB issued ASU 2015-11, Simplifying the Measurement of Inventory (“ASU 2015-11”). ASU 2015-11 requires that an entity measure inventory at the lower of cost and net realizable value. This ASU does not apply to inventory measured using last-in, first-out. ASU 2015-11 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. The Company does not expect the new standard to have a significant impact on its consolidated financial position, results of operations or cash flows. Accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption. |
Inventory
Inventory | 12 Months Ended |
Aug. 31, 2015 | |
Inventory [Text Block] | 4. Inventory A summary of inventory as of August 31, 2015 and 2014 follows: August 31, 2015 August 31, 2014 Finished goods $ 119,944 $ - Raw materials 48,042 - $ 167,986 $ - |
Capital Stock
Capital Stock | 12 Months Ended |
Aug. 31, 2015 | |
Capital Stock [Text Block] | 5. Capital Stock Share Issuances On July 14, 2014, the Company accepted Mr, Chris Hornung’s resignation with respect to his contract dated, April 24, 2014, whereby, the Company had entered into a one year consulting contract with 2342878 Ontario Inc. wholly owned company by Chris Hornung as Assistant Manager. Upon signing of the contract of acceptance the Company issued 110,000 common shares at a deemed price of $0.32. The Company’s 110,000 restricted common shares that were issued have also been cancelled and returned back to treasury . On September 26, 2014, the Company accepted and received gross proceeds of $45,780 for private placement at $0.15 per unit into 305,000 common shares of the Company and 305,200 warrants at $0.25 expiring March 26, 2016. On December 12, 2014, the Company issued 119,047 common shares of the Company at a price of $0.105 per common share to each of Marian Washington and Michelle Reillo as per the terms of the ViPova agreement. On May 14, 2015, the Company accepted and received gross proceeds of $500,000 for private placement at $0.10 per unit into 5,000,000 common shares of the Company and 5,000,000 warrants at $0.25 expiring May 14, 2017. A cash finders’ fee for $32,900 was paid to GMP Securities, Mackie Research and Peter Przygoda.; and 329,000 broker warrants with an exercise price of $0.20 for a period of twenty four months were issued to GMP, Mackie Research and Peter Przygoda. Cash finders fee in the amount of $4,899 from Peter Przygoda was returned in August, 2015 and his broker warrants were adjusted to 108,500. On June 8, 2015, the Company issued 250,000 common shares valued at $50,000 at $0.19 per share to Ron Keleher ( 50,000 common shares) and Scott Urquart ( 200,000 common shares) with respect to agreements signed on April 2, 2015 and May 27, 2015 On June 11, 2015, 500,000 restricted shares of the Company that were issued to Enertopia Corp. were returned back to treasury and cancelled. On August 17, 2015, the Company issued 420,000 common shares of the Company at a price of $0.19 per common share to Docherty Management Limited as per the terms of the consulting agreement. As at August 31, 2015, Lexaria Corp. has 39,852,984 shares issued and outstanding and 18,036,533 warrants issued and outstanding. The following table summarizes warrant activity for the year ended August 31, 2015 and 2014: Weighted Average Number of Shares Exercise Price Balance, October 31, 2013 - $ - Granted warrants with expiry date of November 1, 2015 500,000 0.10 Granted warrants with expiry date of September 21, 2015 10,600,000 0.25 Granted warrants with expiry date of April 1, 2015 552,380 0.40 Granted warrants with expiry date of February 12, 2016 1,302,333 0.25 Balance, August 31, 2014 12,954,713 $ 0.25 Warrants expired April 1, 2015 (552,380 ) 0.40 Granted warrants with expiry date of March 26, 2016 305,200 0.25 Granted warrants with expiry date of May 14, 2017 5,000,000 0.25 Granted warrants with expiry date of May 14, 2017 329,000 0.20 Balance, August 31, 2015 18,036,533 $ 0.25 |
Discontinued Operations
Discontinued Operations | 12 Months Ended |
Aug. 31, 2015 | |
Discontinued Operations [Text Block] | 6. Discontinued Operations On November 26, 2014 a Purchase and Sale Agreement was executed between Lexaria Corporation, and Cloudstream Belmont Lake, LP for the purchase and sale of oil and gas working interests, net revenue interests and other interests in Belmont Lake, Mississippi for total consideration of $1,400,000, which is subject to adjustments as provided in the Purchase and Sale Agreement. The final purchase price was $1,400,000, which closed on December 5, 2014. A total net amount of $721,806 was paid to the Company after all short term debts were paid out from the sale. Accordingly, the results of the Company’s former oil and gas business have been reported as discontinued operations for all periods presented. Discontinued operations were comprised of : 2015 2014 August 31 August 31 $ $ Revenue 59,715 508,049 Costs (10,797 ) (327,413 ) Loss on disposition oil and gas property - (1,879,007 ) Income from discontinued from oil & gas operations 48,918 1,698,371 Assets and liabilities of discontinued operations held for sale included the following: August 31, 2015 August 31, 2014 $ $ Oil and gas properties-Proven - 1,400,000 Total Assets - 1,400,000 |
Medical Marijuana Investment
Medical Marijuana Investment | 12 Months Ended |
Aug. 31, 2015 | |
Medical Marijuana Investment [Text Block] | 7. Medical Marijuana Investment a) On March 5, 2014 b) On May 27, 2014 c) On May 28, 2014 The Parties contribute the following as their initial contributions to the Business: Enertopia, as its initial contribution, contributed $45,000 to the Joint Venture bank account. Lexaria, as its initial contribution, contributed $55,000 to the Joint Venture bank account. The Parties shall have the following Ownership Interests under this Agreement and of the Business: Enertopia - 51% The Parties shall bear the costs arising under this Agreement and the operation of the Business as to the following, as further described in this Agreement (the “Cost Interests”): The Parties shall have the following insured liability for all things that are not operating costs arising under this Agreement and the operation of the Business as to the following: The Parties shall receive all revenues and profits derived from the operation of the Business as to the following, as further described in this Agreement (the “Revenue Interests”): Enertopia shall act as the manager of the Operations (the "Manager") for so long as its Ownership Interest is 51% or more. Enertopia may designate a specified individual as Manager if the Parties unanimously consent to such appointment. If any party, including Lexaria, gains a 51% Ownership Interest in the Business, then Enertopia shall have the obligation, if requested by the 51% Ownership Interest party, to surrender the Manager position. The parties did not form a separate legal entity as part of the Joint Venture Agreement; therefore, the Company accounts for the Joint Venture as a collaborative arrangement in accordance with ASC 808 “Collaborative Arrangements”. This agreement was terminated in June 2015. As result of termination, the Company wrote off $7,662 of leasehold improvement and cancelled 500,000 restricted common shares issued to Enertopia as Medical Marijuana Investments. On June 11, 2015 the shares were returned to treasury. d) On August 1, 2014, the Company signed an extension on an amended Letter of intent, that was executed on April 10, 2014 on behalf of a corporation to be incorporated by Lexaria Corp. and Enertopia Corporation (Lessee) and Mr. Jeff Paikin of 1475714 Ontario Inc. (Lessor) sets out the Lessee’s and Lessor’s shared intent to enter into a lease agreement (the “Lease”) for warehouse space (the “Leased Premises”) in the building located at Burlington, Ontario (the “Building”). On August 5, 2014 as per the terms of the LOI, the Company issued 91,662 common shares at a deemed price of $0.30 per share. The lease has been extended for another 6 months at the rate of $7,562 per month to the Company, due for renewal or expiration on June 22, 2015. The Company did not renew the lease LOI. |
Alternative Health Product
Alternative Health Product | 12 Months Ended |
Aug. 31, 2015 | |
Alternative Health Product [Text Block] | 8. Alternative Health Product On November 12, 2014, the Company has signed an agreement with Poppy’s Teas LLC. (“ViPova”) to acquire 51% of ViPova with an initial consideration of US$50,000. Lexaria acquired a 51% Ownership Interest in the Business by satisfying the requirements set out in the agreement: • Pay to Operations bank account US$50,000 as an initial amount to upgrade the Business as may be required to advance the Business (paid) • Agree to Spend $75,000 over one year following the execution date of this agreement as a product marketing and operations budget • Agree to Extend to the founders of ViPova (“Founders”) $25,000 worth of Lexaria common shares subject to a share lockup of six months as required by the Securities and Exchange Commission (paid) • Agree to Pay one of the Founders $2000 a month for production consulting for a period of 12 months out of revenues, the operating account, or against the marketing budget • Agree to Pay one of the Founders $2000 a month for marketing consulting for a period of 12 months out of revenues, the operating account, or against the marketing budget • Agree to Provide the Founders a cash bonus in the amount of $50,000 should the company generate $300,000 in sales within 8 months of the execution of this agreement • Agree to grant to ViPova a Right of First Refusal to produce under “white-label,” additional cannabinoid (“CBD”) -based products on behalf of Lexaria, but Lexaria reserves the right to engage other producers should Lexaria, in its reasonable discretion, believe ViPova to be uncompetitive to supply the products requested by Lexaria. • As part of this Agreement, and once the terms of this Agreement have expired, the Founders will be automatically granted a lifetime license to personally produce products covered by patent numbers # 62010621 and 62037706. This personal license does not extend to any third party corporation, joint venture or partnership that would compete against PoViva Tea, LLC or Lexaria Corporation. ViPova will reduce to a 25% Ownership Interest in the Business and Lexaria will acquire an additional 24% (total 75%) Ownership Interest in the Business by satisfying the following requirements: • Spend an additional US$100,000 on sales and marketing “ViPova by Lexaria” brand beginning within 60 days of executing this Agreement and completing spending within 24 months of executing this Agreement. • Lexaria to pay to ViPova or to its principals 2.5 times trailing 12 months ViPova revenue (pro-rata) calculated from that date that this option is exercised. ViPova can receive up to 50% of this payment in the Company’s common stock at ViPova’s discretion. • This Section is valid beginning November 15th, 2015 and expires on November 15th, 2017. The acquisition of Vipova was treated as an acquisition of assets rather than a business combination because Vipova did not constitute a business. $48,039 acquired In-Process Research and Development has been expensed at the acquisition date in accordance with ASC 730-10-25-1. In June 2015, the Company filed Lexaria simultaneous filing of a U.S. utility patent application and an International patent application under the Patent Cooperation Treaty (PCT) procedure, both at the U.S. Patent and Trademark Office. These applications follow the Company’s 2014 and 2015 family of provisional patent application filings in the U.S. and serve two additional broad purposes. The first of these was to expand potential intellectual property protection outside of the USA. Filing under the PCT allows the Company to elect to pursue patent protection in up to 148 nations around the world. The second purpose was to broaden the number of molecules for which intellectual patent protection is sought. Under the original patents pending, only the THC and CBD molecules, infused within a unique lipid-formulation technology, were pursued. Under the new patent applications, the list of molecules for which a unique delivery system were broadened to include THC, CBC, Nicotine, Non Steriodal Anit Inflammatories, and certain Vitamins. As at August 31, 2015, the Company capitalized of $36,989 for patent application. On August 11, 2015, Lexaria signed a licence agreement with PoViva Tea LLC for $10,000, granting Lexaria a 35 -year non exclusive worldwide license to unencumbered use of PoViva Tea LLC’s IP Rights, including rights of resale. This license agreement ensures Lexaria has full access to the underlying patent pending infusion technology. The Company has not paid such payment as at August 31, 2015. |
Loan Payable
Loan Payable | 12 Months Ended |
Aug. 31, 2015 | |
Loan Payable [Text Block] | 8. Loan Payable Carrying amounts Original amounts Notes Nature August 31, 2015 August 31, 2014 $ $ $ a) Promissory Note 75,000 - 75,000 b) Convertible debentures 620,000 - 58,666 c) Convertible debentures 200,000 - 56,667 d) Promissory Note 50,000 - 50,000 e) Promissory Note 657,447 - 536,603 Total Outstanding 1,698,690 - 776,936 Loan payable – current 1,698,690 - 776,936 Loan payable - long term - 0 - All outstanding debts were paid as at December 5, 2014 through the sale of Belmont Lake by the purchaser by the close of the transaction. a) On April 1, 2010, the Company entered into a purchase agreement with CAB Financial Services Ltd., a company controlled by Christopher Bunka, our President, Chief Executive Officer and Director, (“Purchaser”) for a non-secured promissory note in the amount of $75,000 (the “Promissory Note”). The Purchaser agreed to purchase a non-secured 18% interest bearing Promissory Note of our company subject to and upon the terms and conditions of the Purchase Agreement. The Promissory Note is due and payable on April 1, 2012. The Promissory Note may be prepaid in whole or in part at any time prior to April 1, 2012 by payment of 108% of the outstanding principal amount including accrued and unpaid interest. Upon the mature of the Promissory Note, it has been renewed to a month to month basis. As long as the Promissory Note is outstanding, the Purchaser may voluntarily convert the Promissory Note including accrued and unpaid interest to common shares of our Company at the conversion price of $0.30 per common share. This debt has been paid through the Purchase and Sale Agreement of Belmont Lake. The Company did not incur beneficiary conversion charges as the conversion price is greater than the fair value of the Company’s equity at the time of issuance. b) On November 30, 2010, we closed the first tranche of a private placement offering of convertible debentures in the aggregate amount of $450,000. The convertible debentures mature on November 30,2012, subject to forced conversion as set out in the convertible debenture certificate. The convertible debentures pay an interest rate of 12% per annum (on a simple basis) and are convertible at $0.35 per unit. Each unit is comprised of one share of our common stock and one share purchase warrant. Each warrant entitles the holder thereof to purchase one share at a price of $0.40 per share up to the earlier of the maturity date of the convertible debenture or one year from conversion of the convertible debenture. We also entered into a general security agreement with the subscribers, whereby the obligations to repay the convertible debenture are secured by the Company’s working interest and production in and only in two oil wells located at Belmont Lake, Mississippi, with carrying value of $1,000,000 as of October 31, 2012. One director of the Company and Emerald Atlantic LLC, solely owned by the director, subscribed the convertible debentures with amount of $50,000. On December 16, 2010, the Company closed the second tranche of a private placement offering of convertible debentures in the aggregate amount of $170,000. The convertible debentures mature on November 30, 2012, subject to forced conversion as set out in the convertible debenture certificate. The convertible debentures pay an interest rate of 12% per annum (on a simple basis) and are convertible at $0.35 per unit. Each unit is comprised of one share of our common stock and one share purchase warrant. Each warrant entitles the holder thereof to purchase one share at a price of $0.40 per share up to the earlier of the maturity date of the convertible debenture or one year from conversion of the convertible debenture. We also entered into a general security agreement with the subscribers, whereby the obligations to repay the convertible debenture are secured by the same assets for the first tranche of the private placement offering on November 30, 2010. One director of the Company and Emerald Atlantic LLC, solely owned by the director, subscribed the convertible debentures with amount of $120,000. The aggregate principal value of the above convertible debentures was $620,000 and was allocated to the individual components on a relative fair value basis. In addition, because the effective conversion price of the convertible debentures was below the current trading price of the Company’s common shares at the date of issuance, the Company recorded a beneficial conversion feature of approximately $20,000. The value of the warrants and beneficial conversion feature has been recorded as additional paid in capital. On November 13, 2013, the Company entered into an Amendment agreement to refinance and extend repayment terms on the loan, please refer to Note 8f for details. On April 1, 2014, three of the parties converted their balance of $193,333 of principal remaining into 552,350 common shares at a price of $0.35 per share. On December 4, 2015, the Company has paid down all of the debt outstanding of $58,666 (August 31, 2014: $354,665). c) On December 1, 2011, the Company closed a private placement offering of convertible debentures in the aggregate amount of $200,000. The convertible debentures mature on December 1, 2012, subject to forced conversion as set out in the convertible debenture certificate. The convertible debentures pay an interest rate of 12% per annum (on a simple basis) and are convertible at $0.35 per unit. Each unit is comprised of one share of our common share and one share purchase warrant. Each warrant entitles the holder thereof to purchase one share at a price of $0.40 per share up to the earlier of the maturity date of the convertible debenture or one year from conversion of the convertible debenture. We also entered into a general security agreement with the subscribers, whereby the obligations to repay the convertible debenture are secured by the Company’s working interest and production in and only in two oil wells located at Belmont Lake, Mississippi, with carrying value of $1,000,000 as of October 31, 2012. Two directors of the Company, David DeMartini and Christopher Bunka, via CAB Financial Services Ltd, solely owned by the director, subscribed to the convertible debentures with the amount of $200,000. The aggregate principal value of the above convertible debentures was $200,000 and was allocated to the individual components on a relative fair value basis. Because the effective conversion price of the convertible debentures was above the current trading price of the Company’s common shares at the date of issuance, beneficial conversion feature is $Nil, therefore, the amount of $200,000 was recorded under loan payable. On November 13, 2013, the Company entered into an Amendment agreement to refinance and extend repayment terms on the terms on the loan, please refer to Note 10f for details. On December 4, 2014, the Company has paid down all of the debt outstanding of $56,667 (August 31, 2014: $85,001). d) On March 30, 2012, the Company entered into a loan agreement with Christopher Bunka, our President, Chief Executive Officer and Director, (“Lender”) for a non-secured promissory note in the amount of $50,000 (the “Promissory Note”). The Lender agreed to purchase a non-secured 12% interest bearing Promissory Note of our company subject to and upon the terms and conditions of the agreement. The Promissory Note has a month to month term. This debt was been repaid in full during November 2014. e) On October 27, 2008 the Company entered into a Purchase Agreement in the amount of CAD$900,000 of Notes being purchased by the President (CAD$400,000), the President’s wholly-owned company (CAD$300,000) and a shareholder (CAD$200,000) of the Company (“Purchasers”). The Purchasers agreed to purchase an 18% interest bearing Promissory Note of the Company subject to and upon the terms and conditions of the Purchase Agreement. The Company’s obligations to repay the Promissory Note will be secured by certain specified assets of the Company pursuant to a Security Agreement. As long as the Promissory Note is outstanding, the Purchasers may voluntarily convert the Promissory Note to Common Shares at the conversion price of $0.45 per share of Common Stock. The Promissory Note matures on October 27, 2010 or by mutual agreement by all parties on October 27, 2009. In connection with the Purchase Agreement, the Company issued a total of 390,000 ( 1,560,000 pre-consolidation) warrants which two warrants entitle a holder to purchase a common share of the Company of which 195,000 ( 780,000 pre-consolidation) warrants are eligible at $0.05 (adjusted price) and 195,000 ( 780,000 pre-consolidation) warrants are eligible at $0.05 (adjusted price) per share and expire October 27, 2009 and October 27, 2010, respectively. The Company did not incur beneficiary conversion charges as the conversion price is greater than the fair value of the Company’s equity. As at the date of the issuance of the above noted Promissory Note, the Company allocated CAD$21,321 and CAD$683,559 to warrants (additional paid-in capital) and Promissory Note based on their relative fair value. On July 10, 2009 the Purchasers converted $45,000 of the Promissory Note into equity at $0.05 per share. On October 27, 2009, 191,000 warrants were exercised for 95,500 common shares. On October 21, 2010, the Company settled a portion of the debt, namely $1,625 with the President’s wholly-owned company by converting 65,000 warrants into 32,500 common shares of the Company as per Purchase Agreement dated October 27, 2008 at a price of $0.05 per share. On October 21, 2010, the Company settled a portion of the debt, namely $2,167 with the President by converting 86,667 warrants into 43,333 common shares of the Company as per Purchase Agreement dated October 27, 2008 at a price of $0.05 per share. On October 21, 2010, the Company entered into an amendment with loan holders to extend the loan to be on a month-to-month basis with the same terms and conditions as pursuant to the amendment. On December 1, 2012, the Company entered into an Amendment to existing debt agreement with a shareholder of the Company, whereby the lender has agreed to modify terms of the earlier agreements and provide for a debt repayment schedule ending on December 1, 2013. The Company was scheduled to repay the debt in twelve equal monthly principal payment, plus interest on the monthly declining balances. The interest rates of the amendment debt are the same as the existing debt agreement. On November 13, 2013, the Company entered into an Amendment agreement to refinance and extend repayment terms on the loan, please refer to Note f for details. On December 4, 2014, the Company has paid down all of the debt outstanding of CAD$563,108 (August 31, 2014: $44,917). On November 13, 2013, the Company refinanced and extended repayment terms on all debt that was otherwise due to mature in December 2013 with CAB Financial Services Ltd., David DeMartini, Emerald Atlantic LLC, and other debt holders of the Company. Per the Amendment Agreements, a) the loan repayment schedule will be converted, with an effective date of December 1, 2013, to a new one year term loan with monthly interest payments at 18% on any declining balance, in arrears and all principal amounts not paid before then due in full on December 1, 2014; b) the first payment of interest shall be due on January 1, 2014; c) the Company will make ten (10) monthly principal payments, each of which is 1/10th of the principal amount owing at the time this Agreement goes into effect, beginning on March 1 2014 and repeating on the first day of each month thereafter until all the principal is paid; d) the Company grants to the lenders new collateral specifically limited to the lender’s pro-rata portion (the original initial balance owing to the lender shall form the numerator and $930,000 shall form the denominator) of the Company’s portion of the net revenue from the new 12 - 7 well required to keep the terms of this Agreement in good standing at any given monthly due date. On April 1, 2014, three of the parties converted their balance of $193,333 of principal remaining into 552,350 common shares at a price of $0.35 per share. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Aug. 31, 2015 | |
Related Party Transactions [Text Block] | 9. Related Party Transactions a) For the year ended August 31, 2015, the Company paid $119,700 to CAB (2014: $80,000); to BKB Management Ltd. (“BKB”) CAD$84,000 (2014: CAD$55,000) for management, consulting and accounting services; to Thomas Ihrke $69,000 (2014: $5,000) for executive management consulting; and to Docherty Management Limited CAD$56,667 and $16,000 (2014: $Nil). CAB is owned by the CEO of the Company, BKB is owned by the CFO of the Company and Docherty Management Limited is owned by the President of the Company. b) On October 27, 2008 the Company entered a secured loan agreement in the amount of CAD$300,000 with CAB (See Note 10e). On July 10, 2009 $40,000 of the debt was converted to equity. On October 21, 2010, the Company settled a portion of the debt, namely US$1,625 with CAB by converting 65,000 warrants into 32,500 common shares of the Company as per Purchase Agreement dated October 27, 2008 at a price of $0.05 per share. On June 28, 2011, the Company paid down CAD $100,000 of the debt. The debt was paid in full from the Belmont Lake sale. For the year ended August 31, 2015, the Company paid/accrued interest expenses of CAD $6,818 (2014: CAD$20,457). c) On October 27, 2008 the Company entered a secured loan agreement in the amount of CAD$400,000 with Christopher Bunka (See Note 10e). On October 21, 2010, the Company settled a portion of the debt, namely $2,167 with Christopher Bunka by converting 86,667 warrants into 43,333 common shares of the Company as per Purchase Agreement dated October 27, 2008 at a price of $0.05 per share. The debt was paid in full from the Belmont Lake sale. For the year ended August 31, 2015, the Company paid/accrued interest expenses of CAD $17,902 (2014: CAD$53,709). d) On April 1, 2010, the Company entered a non-secured loan agreement in the amount of US$75,000 with CAB (See Note 10a). The debt was paid in full from the Belmont Lake sale. For the year ended August 31, 2015, the Company paid/accrued interest expenses of $3,375 (2014: $10,125). e) On March 30, 2012, the Company entered a non-secured loan agreement in the amount of US$50,000 with Chris Bunka. The debt was paid in full from the Belmont Lake sale. For the year ended August 31, 2015, the Company incurred interest expenses of $1,500 (2014: $4,500). f) On December 1, 2011, the Company entered into a secured loan agreement in the amount of $200,000 with two directors of the Company (see Note 10c, f). This loan agreement was amended for another year to repay the debt in twelve equal monthly principal payment, plus interest on the monthly declining balances. The interest rates of the amendment debt are the same as the existing debt agreement. On November 13, 2013, the Company refinanced and extended repayment terms on all debt that was otherwise due to mature in December 2013. The loan repayment schedule will be converted, with an effective date of December 1, 2013, to a new one year term loan with monthly interest payments at 18% on any declining balance, in arrears and all principal amounts not paid before then due in full on December 1, 2014; b) the first payment of interest shall be due on January 1, 2014; c) the Company will make ten (10) monthly principal payments, each of which is 1/10th of the principal amount owing at the time this Agreement goes into effect, beginning on March 1 2014 and repeating on the first day of each month thereafter until all the principal is paid. The debt was paid in full from the Belmont Lake sale. For the year ended August 31, 2015, the Company has paid interest expense of $5,458 (2014: $17,868). g) $22,051 was payable to the President and a company controlled by a CEO of the Company. The related party transactions are recorded at the exchange amount established and agreed to between the related parties. See also Note 10 and Note 5. |
Stock Options
Stock Options | 12 Months Ended |
Aug. 31, 2015 | |
Stock Options [Text Block] | 10. Stock Options 1,425,000 stock options were granted on December 22, 2014 to Directors, Officers and consultants. The exercise price of the stock options is $0.11, 1,225,000 vesting immediately, 100,000 vesting in six months, and 100,000 vesting in 12 months; all expiring on December 22, 2019. On February 4, 2015, the Company granted 250,000 stock options to consultants with an exercise price of $0.10, vesting immediately, expiring February 3, 2020. On March 26, 2015, the Company granted 500,000 stock options to an Officer of the Company. The exercise price of the stock options is $0.10, vesting immediately and expiring on March 26, 2020. For the year ended August 31, 2015, the Company recorded a total of $252,318 (August 31, 2014: $21,279) for stock based compensation expenses. The fair value of options granted has been estimated as of the date of the grant by using the Black-Scholes option pricing model with the following assumptions: August 31, 2015 August 31, 2014 Expected volatility 243%- 249% 210 - 252% Risk-free interest rate 1.47 - 1.66% 1.70 - 1.76% Expected life 5.00 years 5 years Dividend yield 0.00% 0.00% A summary of the stock options for the ten months year ended August 31, 2015 and 2014 is presented below: Options Outstanding Weighted Average Number of Exercise Shares Price Balance, August 31, 2014 2,625,000 $ 0.24 Expired (1,100,000 ) 0.23 Granted 2,175,000 0.11 Balance, August 31, 2015 3,700,000 $ 0.17 The Company has the following options outstanding and exercisable: August 31, 2015 Options outstanding Options exercisable Range of Number Weighted average Weighted Number Weighted average Weighted Exercise prices of shares remaining average exercise of shares remaining average contractual life price contractual life exercise price $0.35 450,000 0.86 years $ 0.35 450,000 0.86 years $ 0.35 $0.10 400,000 2.80 years $ 0.10 400,000 2.80 years $ 0.10 $0.60 50,000 3.57 years $ 0.60 50,000 3.57 years $ 0.60 $0.25 625,000 3.90 years $ 0.25 625,000 3.90 years $ 0.25 $0.11 1,425,000 4.31 years $ 0.11 1,425,000 4.30 years $ 0.11 $0.10 250,000 4.43 years $ 0.10 250,000 4.43 years $ 0.10 $0.10 500,000 4.57 years 0.10 500,000 4.57 years 0.10 Total 3,700,000 3.69 years $ 0.17 3,700,000 3.68 years $ 0.17 August 31, 2014 Options outstanding Options exercisable Range of Exercise Number of Weighted average Weighted average Number of Weighted avera prices shares remaining contractual life exercise price shares exercise price $0.20 150,000 0.96 years $ 0.20 150,000 $ 0.20 $0.20 850,000 0.39 years $ 0.20 850,000 $ 0.20 $0.35 450,000 1.86 years $ 0.35 450,000 $ 0.35 $0.10 400,000 3.80 years $ 0.20 400,000 $ 0.10 $0.60 50,000 4.57 years $ 0.60 50,000 $ 0.60 $0.50 100,000 4.59 years $ 0.50 100,000 $ 0.50 $0.25 625,000 4.90 years $ 0.25 625,000 $ 0.25 Total 2,625,000 2.54 years $ 0.25 2,625,000 $ 0.24 |
Commitments, Significant Contra
Commitments, Significant Contracts and Contingencies | 12 Months Ended |
Aug. 31, 2015 | |
Commitments, Significant Contracts and Contingencies [Text Block] | 11. Commitments, Significant Contracts and Contingencies On November 27, 2008, the Company entered into a Consulting Agreement with CAB Financial Services Ltd. for consulting services of CAB on a continuing basis for a consideration of US$8,000 per month plus GST. Effective December 1, 2014, the Company entered into a new consulting agreement with the consulting services at $10,000 per month plus GST. On May 12, 2009 the Company entered into a consulting agreement with BKB Management Ltd. to act as the Chief Financial Officer and a Director for an initial period of six months for consideration of CAD $4,500 per month plus GST. This agreement replaces the September 1, 2008, Controller Agreement with CAB Financial Services Ltd. Subsequent to October 31, 2010, effective January 1, 2011, the consideration was increased to CAD$5,500 per month plus GST/HST. Effective December 1, 2014, the Company entered into a new consulting agreement with the consulting services at CAD$7,500 per month plus GST. On August 5, 2010 we entered into a three-month Management agreement with Tom Ihrke, whereby Mr. Ihrke will act as the Senior Vice-President, Business Development for the Company for consideration of $3,125 per month. On December 2, 2010, the Company entered into a month to month management agreement with Tom Ihrke, where by Mr. Ihrke will continue to act as the Senior Vice-President Business Development for the Company. On October 3, 2011 Mr. Ihrke and the Company amended the agreement whereby his title changed to Manager, Business Development. The Company will pay a monthly consulting fee of $3,125. Effective January 15, 2012, the consulting agreement has been decreased to $10 a month. Effective April 1, 2014, the amended consulting agreement has been increased to $5,000 per month. Effective December 23, 2014, the Company has entered into a new Executive Management consulting agreement with the consulting services at $3,000 per month. On July 1, 2013, the Company entered into a 2 year lease for the Kelowna office with monthly rental rate of $1,652 including GST. The lease renews on a month-to-month basis with a 3 -month notice term beginning July 1, 2015. On February 1, 2015 the Company signed a consulting agreement for up to five years with confirmed 6 months with Sequoia Partners Inc. to provide strategic and development of project objectives. The Company will pay monthly compensation of CAD$5,000 for six months. On March 26, 2015, the Company announced the appointment John Docherty as President of Lexaria effective April 15, 2015. The Company executed a twenty four month consulting contract with Docherty Management Limited, solely owned by Mr. John Docherty with a monthly compensation of CAD$12,500 and shall increase to a total of CAD$15,000 per month effective at that time when the Company has US$1,000,000 or more in cash in its bank accounts, and continue at CAD$15,000 per month from that moment until the termination or completion of the contract. The Company may pay the Consultant a bonus from time to time, at its sole discretion. Mr. John Docherty will be entitled to receive common stock-based and stock- option based bonuses upon achieving certain milestones during the time of his Consultancy with the Company. These milestones are: • Upon signing: A grant of 500,000 stock options priced one-cent above market prices at the time of award. (granted) • 90 Days after signing: A grant of 500,000 restricted common shares.( 420,000 restricted common shares issued) • Twelve months after signing: A grant of 300,000 stock options priced one-cent above market prices at the time of award. • Eighteen (18) months after signing: A grant of 300,000 restricted common shares. • During the first twelve (12) months after signing; for combined Lexaria Energy and ViPova products and including all combined sales efforts, achieving non- refundable sales of US$200,000 to any single customer in any consecutive 60 -day period would result in a restricted common share award of 100,000 Company shares; and, after the first twelve (12) months after signing and expiring twenty- four (24) months after signing; for combined Lexaria Energy and ViPova products and including all sales efforts, achieving non-refundable sales of US$200,000 to any single customer in any consecutive 60 -day period would result in a restricted common share award of 50,000 Company shares; this clause limited to one payment per customer during the 24 -month period, but payable on each customer that meets these sales thresholds; • During the first twelve (12) months after signing; for combined Lexaria Energy and ViPova products and including all combined sales efforts, achieving non- refundable sales of US$500,000 in any fiscal quarter would result in a restricted common share award of 200,000 Company shares; and, after the first twelve (12) months after signing and expiring twenty-four (24) months after signing; for combined Lexaria Energy and ViPova products and including all sales efforts, achieving non-refundable sales of US$500,000 in any fiscal quarter would result in a restricted common share award of 100,000 Company shares; this clause limited to one payment per fiscal quarter; • During the time this Agreement remains in effect, for each new provisional patent application substantially devised by Mr. John Docherty and successfully created, written and filed with the US Patent Office for Company-owned intellectual property, a restricted common share award of 250,000 Company shares, this clause not limited to frequency of payment but each patent application to be approved by the Board of Directors of the Company, in advance; See also Note 7 and 8. |
Income Tax
Income Tax | 12 Months Ended |
Aug. 31, 2015 | |
Income Tax [Text Block] | 12. Income Tax The following table reconciles the income tax benefit at the U.S. Federal statutory rate to income tax benefit at the Company's effective tax rates at August 31, 2015 and 2014: 2015 2014 Income (loss) before taxes $ (1,934,352 ) $ (3,257,711 ) Statutory tax rate 35% 35% Expected income tax (recovery) $ (677,023 ) $ (1,140,199 ) Non-deductible items $ 98,764 $ 24,259 Change in estimates $ 646,711 (530 ) Change in valuation allowance $ (68,453 ) $ 1,116,470 Total income taxes (recovery) $ Nil $ Nil Deferred taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes. Deferred tax assets (liabilities) at August 31, 2015 and 2014 are comprised of the following: 2015 2014 Net capital loss carryforwards $ 2,715,944 $ 2,126,795 Oil and Gas Property $ - $ 657,652 $ 2,715,944 $ 2,784,447 Valuation allowance $ (2,715,944 ) $ (2,784,447 ) Net deferred tax assets (liabilities) $ Nil $ Nil The Company has net operating loss carryforwards of approximately $7,760,000 which may be carried forward to apply against future year income tax for US tax purposes. Year Amount 2025 $ 76,000 2026 508,000 2027 1,056,000 2028 720,000 2029 753,000 2030 552,000 2031 538,000 2032 252,000 2033 344,000 2034 1,309,000 2035 1,652,000 Total $ 7,760,000 The deferred tax assets have not been recognized because at this stage of the Company’s development, it is not determinable that future taxable profit will be available against which the Company can utilize such deferred income tax assets. |
Segmented Information
Segmented Information | 12 Months Ended |
Aug. 31, 2015 | |
Segmented Information [Text Block] | 13. Segmented Information The Company identifies its segments based on the way management organizes the Company to assess performance and make operating decisions regarding the allocation of resources. In accordance with the criteria in FASB ASC 280 "Segment Reporting," the Company has concluded that it currently has three reportable segments: oil and gas exploration, medical marijuana and Alternative Health Products, which are managed separately based on fundamental differences in their operations nature. Summarized financial information concerning the Company’s reportable segments is shown in the following tables: Alternative Health Oil and Gas Products Corporation Total $ $ $ Revenue 48,918 14,702 63,620 Operation expenses - 349,093 1,636,996 1,968,089 Total assets 214,632 497,090 711,722 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Aug. 31, 2015 | |
Subsequent Events [Text Block] | 14. Subsequent Events a) Subsequent year end, on September 16, 2015, the Company’s Board has appointed Ted McKechnie as a Director. He was issued 100,000 common shares of the Company at $0.19 per share and was awarded 100,000 stock options vested immediately and expiring in five years at an exercerise price of $0.19. |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Aug. 31, 2015 | |
Basis of Consolidation [Policy Text Block] | a) Basis of Consolidation The consolidated financial statements include the financial statements of the Company, its wholly-owned subsidiary, Lexaria CanPharm Corp. which was incorporated on April 4, 2014 under the laws of Canada, and 51%-owned subsidiary Poviva Tea, LLC which was incorporated on December 12, 2014, under the laws of the State of Nevada. All significant inter-company balances and transactions have been eliminated. |
Principles of Accounting [Policy Text Block] | b) Principles of Accounting These consolidated financial statements are stated in U.S. dollars and have been prepared in accordance with U.S. generally accepted accounting principles. |
Revenue Recognition [Policy Text Block] | c) Revenue Reconition The Company uses the sales method of accounting for natural gas and oil revenues. Under this method, revenues are recognized upon the passage of title, net of royalties. Revenues from natural gas production are recorded using the sales method. When sales volumes exceed the Company’s entitled share, an overproduced imbalance occurs. To the extent the overproduced imbalance exceeds the Company’s share of the remaining estimated proved natural gas reserves for a given property, the Company records a liability. At August 31, 2015 and October 31, 2014, the Company had no overproduced imbalances. Revenue from the sale of helth products is generally recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the sales price is fixed or determinable, and collectability is reasonably assured. In most cashes, these condition are met when the product is shipped to the customer or services have been rendered. The Company reports its sales net of the amount of actual sales returns and the amount of reserves established for anticipated sales returns based upon historical return rates. Sales tax collected from customers is excluded from net sales in the accompanying consolidated statements of income. |
Inventories and Cost of Sales [Policy Text Block] | d) Inventories and Cost of Sales The Company has two major classes of inventory: finished goods and raw materials. In all classes, inventory is valued at the lower of cost or market. Cost is determined on a first-in, first-out basis. Cost of sales includes all expenditures incurred in bringing the goods to the point of sale. Inventory costs and costs of sales include direct costs of the raw material, inbound freight charges, warehousing costs, handling costs (receiving and purchasing) and utilities and overhead expenses related to the Company’s manufacturing and processing facilities. |
Cash and Cash Equivalents [Policy Text Block] | e) Cash and Cash Equivalents Cash equivalents comprise certain highly liquid instruments with a maturity of three months or less when purchased. As of August 31, 2015 and August 31, 2014, cash and cash equivalents consist of cash only. |
Patents [Policy Text Block] | f) Patents Capitalized patent costs represent legal costs incurred to establish patents. When patents reach a mature stage, any associated legal costs are comprised mostly of maintenance fees and costs of national applications and are expensed as incurred. Capitalized patent costs are amortized on a straight line basis over the remaining life of the patent. In the fiscal year ended August 31, 2015, the Company has not completed the patents application. |
Oil and Gas Properties [Policy Text Block] | g) Oil and Gas Properties The Company utilizes the full cost method to account for its investment in oil and gas properties. Accordingly, all costs associated with acquisition, exploration and development of oil and gas reserves, including such costs as leasehold acquisition costs, capitalized interest costs relating to unproved properties, geological expenditures, tangible and intangible development costs including direct internal costs are capitalized to the full cost pool. When the Company obtains proven oil and gas reserves, capitalized costs, including estimated future costs to develop the reserves and estimated abandonment costs, net of salvage, will be depleted on the units-of-production method using estimates of proved reserves. Investments in unproved properties are not depleted pending determination of the existence of proved reserves. Unproved properties are assessed periodically to ascertain whether impairment has occurred. Unproved properties whose costs are individually significant are assessed individually by considering the primary lease terms of the properties, the holding period of the properties, and geographic and geologic data obtained relating to the properties. Where it is not practicable to assess individually the amount of impairment of properties for which costs are not individually significant, such properties are grouped for purposes of assessing impairment. The amount of impairment assessed is added to the costs to be amortized, or is reported as a period expense, as appropriate. Pursuant to full cost accounting rules, the Company must perform a ceiling test periodically on its proved oil and gas assets. The ceiling test provides that capitalized costs less related accumulated depletion and deferred income taxes for each cost center may not exceed the sum of (1) the present value of future net revenue from estimated production of proved oil and gas reserves using current prices, excluding the future cash outflows associated with settling asset retirement obligations that have been accrued on the balance sheet, at a discount factor of 10%; plus (2) the cost of properties not being amortized, if any; plus (3) the lower of cost or estimated fair value of unproved properties included in the costs being amortized, if any; less (4) income tax effects related to differences in the book and tax basis of oil and gas properties. Should the net capitalized costs for a cost center exceed the sum of the components noted above, an impairment charge would be recognized to the extent of the excess capitalized costs. Sales of proved and unproved properties are accounted for as adjustments of capitalized costs with no gain or loss recognized, unless such adjustments would significantly alter the relationship between capitalized costs and proved reserves of oil and gas, in which case the gain or loss is recognized in the statement of operations. Exploration activities conducted jointly with others are reflected at the Company’s proportionate interest in such activities. Cost related to site restoration programs are accrued over the life of the project. |
Stock-Based Compensation [Policy Text Block] | h) Stock-Based Compensation Company accounts for its stock-based compensation awards in accordance with ASC Topic 718, Compensation—Stock Compensation (“ASC 718”). ASC 718 requires all stock-based payments to employees, including grants of employee stock options, to be recognized as expense in the statements of operations based on their grant date fair values. For stock options granted to employees and to members of the Board of Directors for their services on the Board of Directors, the Company estimates the grant date fair value of each option award using the Black-Scholes option-pricing model. The use of the Black-Scholes option-pricing model requires management to make assumptions with respect to the expected term of the option, the expected volatility of the common stock consistent with the expected life of the option, risk-free interest rates and expected dividend yields of the common stock. Share-based payments issued to non-employees are recorded at their fair values, and are periodically revalued as the equity instruments vest and are recognized as expense over the related service period in accordance with the provisions of ASC 718 and ASC Topic 505, Equity. For equity instruments granted to non-employees, the Company recognizes stock-based compensation expense on a straight-line basis. |
Accounting Estimates [Policy Text Block] | i) Accounting Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires us to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Some of our accounting policies require us to make difficult and subjective judgments, often as a result of the need to make estimates of matters that are inherently uncertain. These accounting policies involve critical accounting estimates because they are particularly dependent on estimates and assumptions made by management about matters that are highly uncertain at the time the accounting estimates are made. Although we have used our best estimates based on facts and circumstances available to us at the time, different estimates reasonably could have been used. Changes in the accounting estimates we use are reasonably likely to occur from time to time, which may have a material effect on the presentation of our financial condition and results of operations. Our Significant accounting estimates and assumptions are used for, but not limited to: • useful lives of tangible and intangible assets; • the valuation of deferred tax assets; • share-based payment arrangements; • proved oil and gas reserves. We review our estimates, judgments and assumptions periodically and reflect the effects of revisions in the period in which they are deemed to be necessary. We believe that these estimates are reasonable; however, actual results could differ from these estimates |
Capital Assets [Policy Text Block] | j) Capital Assets The capital asset represents computer equipment which is carried at cost and is amortized over its estimated useful life of 3 years straight-line. Computer equipment is written down to its net realizable value if it is determined that its carrying value exceeds estimated future benefits to the Company. |
Loss Per Share [Policy Text Block] | k) Loss Per Share Loss per share is computed using the weighted average number of shares outstanding during the period. The Company has adopted ASC 220 “ Earnings Per Share |
Foreign Currency Translations [Policy Text Block] | l) Foreign Currency Translations The Company’s operations are located in the United States of America and Canada, and it has offices in Canada. The Company maintains its accounting records in U.S. Dollars, as follows: At the transaction date, each asset, liability, revenue and expense that was acquired or incurred in a foreign currency is translated into U.S. dollars by the using of the exchange rate in effect at that date. At the period end, monetary assets and liabilities are translated at the exchange rate in effect at that date. The resulting foreign exchange gains and losses are included in operations. |
Financial Instruments [Policy Text Block] | m) Financial Instruments ASC 820 “ Fair Value Measurements and Disclosures Level 1 - Quoted prices in active markets for identical assets or liabilities; The Company’s financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, loan payable and due to a related party. The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, loans payable and due to a related party approximate their fair values due to their short maturities. The carrying values of the Company‘s long-term debt approximate their fair values based upon a comparison of the interest rate and terms of such debt to the rates and terms of debt currently available to the Company. The Company is located in Canada, which results in exposure to market risks from changes in foreign currency rates. The financial risk is the risk to the Company’s operations that arise from fluctuations in foreign exchange rates and the degree of volatility of these rates. Currently, the Company does not use derivative instruments to reduce its exposure to foreign currency risk. |
Income Taxes [Policy Text Block] | n) Income Taxes The Company has adopted ASC 740, “ Income Taxes” |
Long-Lived Assets Impairment [Policy Text Block] | o) Long-Lived Assets Impairment Long-term assets of the Company are reviewed for impairment when circumstances indicate the carrying value may not be recoverable in accordance with the guidance established in ASC 360, “ Property, Plant and Equipment |
Asset Retirement Obligations [Policy Text Block] | p) Asset Retirement Obligations The Company accounts for asset retirement obligations in accordance with the provisions of ASC 410, “Asset Retirement and Environmental Obligations |
Comprehensive Income [Policy Text Block] | q) Comprehensive Income The Company has adopted ASC 220, “ Comprehensive Income” |
Credit risk and receivable Concentration [Policy Text Block] | r) Credit risk and receivable Concentration The Company places its cash and cash equivalent with high credit quality financial institution. As of August 31, 2015, the Company had approximately $205,606 in a bank beyond insured limit (August 31, 2014: $551,673). |
Convertible Debentures [Policy Text Block] | s) Convertible Debentures The Company accounts for its convertible debt instruments that may be settled in cash upon conversion according to ASC 470-20-30-22 which requires the proceeds from the issuance of such convertible debt instruments to be allocated between debt and equity components so that debt is discounted to reflect the Company’s non-convertible debt borrowing rate. Further, the Company applies ASC 470-20-35-13 which requires the debt discount to be amortized over the period the convertible debt is expected to be outstanding as additional non-cash interest expense. |
Commitments and Contingencies [Policy Text Block] | t) Commitments and Contingencies In accordance with ASC 450-20, “Accounting for Contingencies”, the Company records accruals for such loss contingencies when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. In the event that estimates or assumptions prove to differ from actual results, adjustments are made in subsequent periods to reflect more current information. Historically, the Company has not experienced any material claims. |
Discontinued Operations [Policy Text Block] | u) Discontinued Operations The results of discontinued operations are presented separately, net of tax, from the results of ongoing operations for all periods presented. The expenses included in the results of discontinued operations are the direct operating expenses incurred by the disposed components that may be reasonably segregated from the costs of the ongoing operations of the Company. See Note 6 - Discontinued Operations for further detail. |
New Accounting Pronouncements [Policy Text Block] | v) New Accounting Pronouncements On May 28, 2014, the Financial Accounting Standards Board (the “FASB”)and the International Accounting Standards Board (the “IASB”) issued substantially converged final standards on revenue recognition. The FASB's Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606), was issued in three parts: (a) Section A, “Summary and Amendments That Create Revenue from Contracts with Customers (Topic 606)and Other Assets and Deferred Costs-Contracts with Customers (Subtopic 340-40),” (b) Section B, “Conforming Amendments to Other Topics and Subtopics in the Codification and Status Tables” and (c) Section C, “Background Information and Basis for Conclusions.” The standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The new revenue recognition guidance becomes effective for the Company on January 1, 2017, and early adoption is not permitted. Entities have the option of using either a full retrospective or a modified approach to adopt the guidance in the ASU. The Company has not yet selected a transition method and is currently evaluating the effect that the updated standard will have on its consolidated financial statements and related disclosures. In April 2014, the FASB issued new guidance on the definition of a discontinued operation that requires entities to provide additional disclosures about disposal transactions that do not meet the discontinued operations criteria. The new guidance narrows the focus of discontinued operations to those components that are disposed of or classified as held-for-sale and that represent a strategic shift that has or will have a major impact on the entity’s operations or financial results. The guidance is effective prospectively for all disposals or components initially classified as held-for-sale in periods beginning on or after December 15, 2014. Early adoption is permitted. Upon adoption, the Company does not believe this guidance will have a material impact on its consolidated results of operations or financial position. In August 2014, the FASB issued new guidance on determining when and how to disclose going -concern uncertainties in the financial statements. The new guidance requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued. An entity must provide certain disclosures if conditions or events raise substantial doubt about its ability to continue as a going concern. The guidance is effective for annual periods ending after December 15, 2016 and interim periods thereafter. Early adoption is permitted. Upon adoption, the Company does not believe this guidance will have a material impact on its consolidated results of operations or financial position. In January 2015, the FASB issued ASU 2015-01, Income Statement-Extraordinary and Unusual Items (Subtopic 225-20), Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items, which eliminates the concept of extraordinary items. Under this new guidance, entities will no longer be required to separately classify, present and disclose extraordinary events and transactions. The amendments in this update are effective for annual and interim periods beginning after December 15, 2015. The Company is evaluating the impact of ASU 2015-01 and an estimate of the impact to the consolidated financial statements cannot be made at this time. In February 2015, the FASB issued ASU No. 2015-02, "Consolidation (Topic 810): Amendments to the Consolidation Analysis"("ASU 2015-02"). ASU 2015-02 makes several modifications to the consolidation guidance for variable interest entities ("VIEs") and general partners' investments in limited partnerships, as well as modifications to the evaluation of whether limited artnerships are VIEs or voting interest entities. It is effective for annual and interim periods beginning after December 15, 2015. Early adoption is permitted. In April 2015, FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). In August 2015, FASB issued ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements (“ASU 2015-15”). ASU 2015-03 will require that debt issuance costs be presented in the balance sheet as a deduction from the carrying amount of the debt. ASU 2015-15 allows an entity to present debt issuance costs associated with a revolving line of credit arrangement as an asset, regardless of whether a balance is outstanding. The recognition and measurement guidance for debt issuance costs are not affected by ASU 2015-03 or ASU 2015-15. These ASU’s are effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period, with early adoption permitted. ASU 2015-03 will require the Company to reclassify its deferred financing costs associated with its long-term debt from other assets to long-term debt on a retrospective basis. The new standard will not affect the Company’s results of operations or cash flows. In April 2015, FASB issued ASU 2015-04, Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets (“ASU 2015-04”). ASU 2015-04 allows employers with a fiscal year end that does not coincide with a calendar month end to make an accounting policy election to measure defined benefit plan assets and obligations as of the end of the month closest to their fiscal year end. ASU 2015-04 is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. Prospective application is required, and early adoption is permitted. In July 2015, FASB issued ASU 2015-11, Simplifying the Measurement of Inventory (“ASU 2015-11”). ASU 2015-11 requires that an entity measure inventory at the lower of cost and net realizable value. This ASU does not apply to inventory measured using last-in, first-out. ASU 2015-11 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. The Company does not expect the new standard to have a significant impact on its consolidated financial position, results of operations or cash flows. Accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption. |
Inventory (Tables)
Inventory (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Schedule of Inventory, Current [Table Text Block] | August 31, 2015 August 31, 2014 Finished goods $ 119,944 $ - Raw materials 48,042 - $ 167,986 $ - |
Capital Stock (Tables)
Capital Stock (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Schedule of Capital Stock, Warrants [Table Text Block] | Weighted Average Number of Shares Exercise Price Balance, October 31, 2013 - $ - Granted warrants with expiry date of November 1, 2015 500,000 0.10 Granted warrants with expiry date of September 21, 2015 10,600,000 0.25 Granted warrants with expiry date of April 1, 2015 552,380 0.40 Granted warrants with expiry date of February 12, 2016 1,302,333 0.25 Balance, August 31, 2014 12,954,713 $ 0.25 Warrants expired April 1, 2015 (552,380 ) 0.40 Granted warrants with expiry date of March 26, 2016 305,200 0.25 Granted warrants with expiry date of May 14, 2017 5,000,000 0.25 Granted warrants with expiry date of May 14, 2017 329,000 0.20 Balance, August 31, 2015 18,036,533 $ 0.25 |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement Disclosures [Table Text Block] | 2015 2014 August 31 August 31 $ $ Revenue 59,715 508,049 Costs (10,797 ) (327,413 ) Loss on disposition oil and gas property - (1,879,007 ) Income from discontinued from oil & gas operations 48,918 1,698,371 |
Schedule of Disposal Groups, Including Discontinued Operations, Balance Sheet Disclosures [Table Text Block] | August 31, 2015 August 31, 2014 $ $ Oil and gas properties-Proven - 1,400,000 Total Assets - 1,400,000 |
Loan Payable (Tables)
Loan Payable (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Schedule of Debt [Table Text Block] | Carrying amounts Original amounts Notes Nature August 31, 2015 August 31, 2014 $ $ $ a) Promissory Note 75,000 - 75,000 b) Convertible debentures 620,000 - 58,666 c) Convertible debentures 200,000 - 56,667 d) Promissory Note 50,000 - 50,000 e) Promissory Note 657,447 - 536,603 Total Outstanding 1,698,690 - 776,936 Loan payable – current 1,698,690 - 776,936 Loan payable - long term - 0 - |
Stock Options (Tables)
Stock Options (Tables) | 12 Months Ended | |
Aug. 31, 2015 | Aug. 31, 2014 | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | August 31, 2015 August 31, 2014 Expected volatility 243%- 249% 210 - 252% Risk-free interest rate 1.47 - 1.66% 1.70 - 1.76% Expected life 5.00 years 5 years Dividend yield 0.00% 0.00% | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Options Outstanding Weighted Average Number of Exercise Shares Price Balance, August 31, 2014 2,625,000 $ 0.24 Expired (1,100,000 ) 0.23 Granted 2,175,000 0.11 Balance, August 31, 2015 3,700,000 $ 0.17 | |
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | August 31, 2015 Options outstanding Options exercisable Range of Number Weighted average Weighted Number Weighted average Weighted Exercise prices of shares remaining average exercise of shares remaining average contractual life price contractual life exercise price $0.35 450,000 0.86 years $ 0.35 450,000 0.86 years $ 0.35 $0.10 400,000 2.80 years $ 0.10 400,000 2.80 years $ 0.10 $0.60 50,000 3.57 years $ 0.60 50,000 3.57 years $ 0.60 $0.25 625,000 3.90 years $ 0.25 625,000 3.90 years $ 0.25 $0.11 1,425,000 4.31 years $ 0.11 1,425,000 4.30 years $ 0.11 $0.10 250,000 4.43 years $ 0.10 250,000 4.43 years $ 0.10 $0.10 500,000 4.57 years 0.10 500,000 4.57 years 0.10 Total 3,700,000 3.69 years $ 0.17 3,700,000 3.68 years $ 0.17 | August 31, 2014 Options outstanding Options exercisable Range of Exercise Number of Weighted average Weighted average Number of Weighted avera prices shares remaining contractual life exercise price shares exercise price $0.20 150,000 0.96 years $ 0.20 150,000 $ 0.20 $0.20 850,000 0.39 years $ 0.20 850,000 $ 0.20 $0.35 450,000 1.86 years $ 0.35 450,000 $ 0.35 $0.10 400,000 3.80 years $ 0.20 400,000 $ 0.10 $0.60 50,000 4.57 years $ 0.60 50,000 $ 0.60 $0.50 100,000 4.59 years $ 0.50 100,000 $ 0.50 $0.25 625,000 4.90 years $ 0.25 625,000 $ 0.25 Total 2,625,000 2.54 years $ 0.25 2,625,000 $ 0.24 |
Income Tax (Tables)
Income Tax (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2015 2014 Income (loss) before taxes $ (1,934,352 ) $ (3,257,711 ) Statutory tax rate 35% 35% Expected income tax (recovery) $ (677,023 ) $ (1,140,199 ) Non-deductible items $ 98,764 $ 24,259 Change in estimates $ 646,711 (530 ) Change in valuation allowance $ (68,453 ) $ 1,116,470 Total income taxes (recovery) $ Nil $ Nil |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2015 2014 Net capital loss carryforwards $ 2,715,944 $ 2,126,795 Oil and Gas Property $ - $ 657,652 $ 2,715,944 $ 2,784,447 Valuation allowance $ (2,715,944 ) $ (2,784,447 ) Net deferred tax assets (liabilities) $ Nil $ Nil |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Amount 2025 $ 76,000 2026 508,000 2027 1,056,000 2028 720,000 2029 753,000 2030 552,000 2031 538,000 2032 252,000 2033 344,000 2034 1,309,000 2035 1,652,000 Total $ 7,760,000 |
Segmented Information (Tables)
Segmented Information (Tables) | 12 Months Ended |
Aug. 31, 2015 | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Alternative Health Oil and Gas Products Corporation Total $ $ $ Revenue 48,918 14,702 63,620 Operation expenses - 349,093 1,636,996 1,968,089 Total assets 214,632 497,090 711,722 |
Organization and Business (Narr
Organization and Business (Narrative) (Details) | 12 Months Ended |
Aug. 31, 2015USD ($) | |
Organization And Business 1 | $ 1,934,352 |
Organization And Business 2 | 3,257,712 |
Organization And Business 3 | 10,085,889 |
Organization And Business 4 | 8,315,389 |
Organization And Business 5 | 619,608 |
Organization And Business 6 | $ 1,649,436 |
Significant Accounting Polici31
Significant Accounting Policies (Narrative) (Details) | 12 Months Ended |
Aug. 31, 2015USD ($)yr | |
Significant Accounting Policies 1 | 51.00% |
Significant Accounting Policies 2 | 10.00% |
Significant Accounting Policies 3 | yr | 3 |
Significant Accounting Policies 4 | $ 205,606 |
Significant Accounting Policies 5 | $ 551,673 |
Capital Stock (Narrative) (Deta
Capital Stock (Narrative) (Details) | 12 Months Ended |
Aug. 31, 2015USD ($)$ / sharesshares | |
Capital Stock 1 | 2,342,878 |
Capital Stock 2 | 110,000 |
Capital Stock 3 | $ | $ 0.32 |
Capital Stock 4 | 110,000 |
Capital Stock 5 | $ | $ 45,780 |
Capital Stock 6 | $ / shares | $ 0.15 |
Capital Stock 7 | 305,000 |
Capital Stock 8 | 305,200 |
Capital Stock 9 | $ | $ 0.25 |
Capital Stock 10 | 119,047 |
Capital Stock 11 | $ | $ 0.105 |
Capital Stock 12 | $ | $ 500,000 |
Capital Stock 13 | $ / shares | $ 0.10 |
Capital Stock 14 | 5,000,000 |
Capital Stock 15 | 5,000,000 |
Capital Stock 16 | $ | $ 0.25 |
Capital Stock 17 | $ | $ 32,900 |
Capital Stock 18 | 329,000 |
Capital Stock 19 | $ | $ 0.20 |
Capital Stock 20 | $ | $ 4,899 |
Capital Stock 21 | 108,500 |
Capital Stock 22 | 250,000 |
Capital Stock 23 | $ | $ 50,000 |
Capital Stock 24 | $ / shares | $ 0.19 |
Capital Stock 25 | 50,000 |
Capital Stock 26 | 200,000 |
Capital Stock 27 | 500,000 |
Capital Stock 28 | 420,000 |
Capital Stock 29 | $ | $ 0.19 |
Capital Stock 30 | 39,852,984 |
Capital Stock 31 | 18,036,533 |
Discontinued Operations (Narrat
Discontinued Operations (Narrative) (Details) | 12 Months Ended |
Aug. 31, 2015USD ($) | |
Discontinued Operations 1 | $ 1,400,000 |
Discontinued Operations 2 | 1,400,000 |
Discontinued Operations 3 | $ 721,806 |
Medical Marijuana Investment (N
Medical Marijuana Investment (Narrative) (Details) | 12 Months Ended |
Aug. 31, 2015USD ($)mo$ / shares$ / moshares | |
Medical Marijuana Investment 1 | 1,000,000 |
Medical Marijuana Investment 2 | 500,000 |
Medical Marijuana Investment 3 | 2.00% |
Medical Marijuana Investment 4 | 5.00% |
Medical Marijuana Investment 5 | 500,000 |
Medical Marijuana Investment 6 | 500,000 |
Medical Marijuana Investment 7 | 500,000 |
Medical Marijuana Investment 8 | mo | 24 |
Medical Marijuana Investment 9 | 51.00% |
Medical Marijuana Investment 10 | 49.00% |
Medical Marijuana Investment 11 | $ | $ 45,000 |
Medical Marijuana Investment 12 | $ | $ 55,000 |
Medical Marijuana Investment 13 | 51.00% |
Medical Marijuana Investment 14 | 49.00% |
Medical Marijuana Investment 15 | 45.00% |
Medical Marijuana Investment 16 | 55.00% |
Medical Marijuana Investment 17 | 51.00% |
Medical Marijuana Investment 18 | 49.00% |
Medical Marijuana Investment 19 | 51.00% |
Medical Marijuana Investment 20 | 49.00% |
Medical Marijuana Investment 21 | 51.00% |
Medical Marijuana Investment 22 | 51.00% |
Medical Marijuana Investment 23 | 51.00% |
Medical Marijuana Investment 24 | $ | $ 7,662 |
Medical Marijuana Investment 25 | 500,000 |
Medical Marijuana Investment 26 | 1,475,714 |
Medical Marijuana Investment 27 | 91,662 |
Medical Marijuana Investment 28 | $ / shares | $ 0.30 |
Medical Marijuana Investment 29 | mo | 6 |
Medical Marijuana Investment 30 | $ / mo | 7,562 |
Alternative Health Product (Nar
Alternative Health Product (Narrative) (Details) | 12 Months Ended |
Aug. 31, 2015USD ($)mod | |
Alternative Health Product 1 | 51.00% |
Alternative Health Product 2 | $ 50,000 |
Alternative Health Product 3 | 51.00% |
Alternative Health Product 4 | $ 50,000 |
Alternative Health Product 5 | 75,000 |
Alternative Health Product 6 | 25,000 |
Alternative Health Product 7 | $ 2,000 |
Alternative Health Product 8 | mo | 12 |
Alternative Health Product 9 | $ 2,000 |
Alternative Health Product 10 | mo | 12 |
Alternative Health Product 11 | $ 50,000 |
Alternative Health Product 12 | $ 300,000 |
Alternative Health Product 13 | mo | 8 |
Alternative Health Product 15 | 25.00% |
Alternative Health Product 16 | 24.00% |
Alternative Health Product 17 | 75.00% |
Alternative Health Product 18 | $ 100,000 |
Alternative Health Product 19 | d | 60 |
Alternative Health Product 20 | mo | 24 |
Alternative Health Product 21 | 2.5 |
Alternative Health Product 22 | mo | 12 |
Alternative Health Product 23 | 50.00% |
Alternative Health Product 24 | $ 48,039 |
Alternative Health Product 25 | 36,989 |
Alternative Health Product 26 | $ 10,000 |
Alternative Health Product 27 | 35 |
Loan Payable (Narrative) (Detai
Loan Payable (Narrative) (Details) - 12 months ended Aug. 31, 2015 | USD ($)$ / sharesshares | CADshares |
Loan Payable 1 | $ 75,000 | |
Loan Payable 2 | 18.00% | 18.00% |
Loan Payable 3 | 108.00% | 108.00% |
Loan Payable 4 | $ 0.30 | |
Loan Payable 5 | $ 450,000 | |
Loan Payable 6 | 12.00% | 12.00% |
Loan Payable 7 | $ / shares | $ 0.35 | |
Loan Payable 8 | $ / shares | $ 0.40 | |
Loan Payable 9 | $ 1,000,000 | |
Loan Payable 10 | 50,000 | |
Loan Payable 11 | $ 170,000 | |
Loan Payable 12 | 12.00% | 12.00% |
Loan Payable 13 | $ / shares | $ 0.35 | |
Loan Payable 14 | $ / shares | $ 0.40 | |
Loan Payable 15 | $ 120,000 | |
Loan Payable 16 | 620,000 | |
Loan Payable 17 | 20,000 | |
Loan Payable 18 | $ 193,333 | |
Loan Payable 19 | shares | 552,350 | 552,350 |
Loan Payable 20 | $ / shares | $ 0.35 | |
Loan Payable 21 | $ 58,666 | |
Loan Payable 22 | 354,665 | |
Loan Payable 23 | $ 200,000 | |
Loan Payable 24 | 12.00% | 12.00% |
Loan Payable 25 | $ / shares | $ 0.35 | |
Loan Payable 26 | $ / shares | $ 0.40 | |
Loan Payable 27 | $ 1,000,000 | |
Loan Payable 28 | 200,000 | |
Loan Payable 29 | 200,000 | |
Loan Payable 30 | 0 | |
Loan Payable 31 | 200,000 | |
Loan Payable 32 | 56,667 | |
Loan Payable 33 | 85,001 | |
Loan Payable 34 | $ 50,000 | |
Loan Payable 35 | 12.00% | 12.00% |
Loan Payable 36 | CAD | CAD 900,000 | |
Loan Payable 37 | CAD | 400,000 | |
Loan Payable 38 | CAD | 300,000 | |
Loan Payable 39 | CAD | CAD 200,000 | |
Loan Payable 40 | 18.00% | 18.00% |
Loan Payable 41 | $ / shares | $ 0.45 | |
Loan Payable 42 | 390,000 | 390,000 |
Loan Payable 43 | 1,560,000 | 1,560,000 |
Loan Payable 44 | 195,000 | 195,000 |
Loan Payable 45 | 780,000 | 780,000 |
Loan Payable 46 | $ 0.05 | |
Loan Payable 47 | 195,000 | 195,000 |
Loan Payable 48 | 780,000 | 780,000 |
Loan Payable 49 | $ 0.05 | |
Loan Payable 50 | CAD | CAD 21,321 | |
Loan Payable 51 | CAD | CAD 683,559 | |
Loan Payable 52 | $ 45,000 | |
Loan Payable 53 | $ / shares | $ 0.05 | |
Loan Payable 54 | shares | 191,000 | 191,000 |
Loan Payable 55 | shares | 95,500 | 95,500 |
Loan Payable 56 | $ 1,625 | |
Loan Payable 57 | shares | 65,000 | 65,000 |
Loan Payable 58 | shares | 32,500 | 32,500 |
Loan Payable 59 | $ / shares | $ 0.05 | |
Loan Payable 60 | $ 2,167 | |
Loan Payable 61 | shares | 86,667 | 86,667 |
Loan Payable 62 | shares | 43,333 | 43,333 |
Loan Payable 63 | $ / shares | $ 0.05 | |
Loan Payable 64 | CAD | CAD 563,108 | |
Loan Payable 65 | $ 44,917 | |
Loan Payable 66 | 18.00% | 18.00% |
Loan Payable 67 | $ 930,000 | |
Loan Payable 68 | 12 | 12 |
Loan Payable 69 | 7 | 7 |
Loan Payable 70 | $ 193,333 | |
Loan Payable 71 | shares | 552,350 | 552,350 |
Loan Payable 72 | $ / shares | $ 0.35 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - 12 months ended Aug. 31, 2015 | USD ($)$ / sharesshares | CADshares |
Related Party Transactions 1 | $ 119,700 | |
Related Party Transactions 2 | 80,000 | |
Related Party Transactions 3 | CAD | CAD 84,000 | |
Related Party Transactions 4 | CAD | 55,000 | |
Related Party Transactions 5 | 69,000 | |
Related Party Transactions 6 | 5,000 | |
Related Party Transactions 7 | CAD | 56,667 | |
Related Party Transactions 8 | 16,000 | |
Related Party Transactions 9 | 0 | |
Related Party Transactions 10 | CAD | CAD 300,000 | |
Related Party Transactions 11 | 40,000 | |
Related Party Transactions 12 | $ 1,625 | |
Related Party Transactions 13 | shares | 65,000 | 65,000 |
Related Party Transactions 14 | shares | 32,500 | 32,500 |
Related Party Transactions 15 | $ / shares | $ 0.05 | |
Related Party Transactions 16 | CAD | CAD 100,000 | |
Related Party Transactions 17 | CAD | 6,818 | |
Related Party Transactions 18 | CAD | 20,457 | |
Related Party Transactions 19 | CAD | CAD 400,000 | |
Related Party Transactions 20 | $ 2,167 | |
Related Party Transactions 21 | shares | 86,667 | 86,667 |
Related Party Transactions 22 | shares | 43,333 | 43,333 |
Related Party Transactions 23 | $ / shares | $ 0.05 | |
Related Party Transactions 24 | CAD | CAD 17,902 | |
Related Party Transactions 25 | CAD | CAD 53,709 | |
Related Party Transactions 26 | $ 75,000 | |
Related Party Transactions 27 | 3,375 | |
Related Party Transactions 28 | 10,125 | |
Related Party Transactions 29 | 50,000 | |
Related Party Transactions 30 | 1,500 | |
Related Party Transactions 31 | 4,500 | |
Related Party Transactions 32 | $ 200,000 | |
Related Party Transactions 33 | 18.00% | 18.00% |
Related Party Transactions 34 | $ 5,458 | |
Related Party Transactions 35 | 17,868 | |
Related Party Transactions 36 | $ 22,051 |
Stock Options (Narrative) (Deta
Stock Options (Narrative) (Details) | 12 Months Ended |
Aug. 31, 2015USD ($)moshares | |
Stock Options 1 | shares | 1,425,000 |
Stock Options 2 | $ 0.11 |
Stock Options 3 | 1,225,000 |
Stock Options 4 | 100,000 |
Stock Options 5 | 100,000 |
Stock Options 6 | mo | 12 |
Stock Options 7 | shares | 250,000 |
Stock Options 8 | $ 0.10 |
Stock Options 9 | shares | 500,000 |
Stock Options 10 | $ 0.10 |
Stock Options 11 | 252,318 |
Stock Options 12 | $ 21,279 |
Commitments, Significant Cont39
Commitments, Significant Contracts and Contingencies (Narrative) (Details) - 12 months ended Aug. 31, 2015 | USD ($)yrmo$ / moCAD / moshares | CADyrmo$ / moCAD / moshares |
Commitments, Significant Contracts And Contingencies 1 | $ / mo | 8,000 | 8,000 |
Commitments, Significant Contracts And Contingencies 2 | $ / mo | 10,000 | 10,000 |
Commitments, Significant Contracts And Contingencies 3 | CAD / mo | 4,500 | 4,500 |
Commitments, Significant Contracts And Contingencies 4 | CAD / mo | 5,500 | 5,500 |
Commitments, Significant Contracts And Contingencies 5 | CAD / mo | 7,500 | 7,500 |
Commitments, Significant Contracts And Contingencies 6 | $ / mo | 3,125 | 3,125 |
Commitments, Significant Contracts And Contingencies 7 | $ 3,125 | |
Commitments, Significant Contracts And Contingencies 8 | $ 10 | |
Commitments, Significant Contracts And Contingencies 9 | $ / mo | 5,000 | 5,000 |
Commitments, Significant Contracts And Contingencies 10 | $ / mo | 3,000 | 3,000 |
Commitments, Significant Contracts And Contingencies 11 | yr | 2 | 2 |
Commitments, Significant Contracts And Contingencies 12 | $ 1,652 | |
Commitments, Significant Contracts And Contingencies 13 | 3 | 3 |
Commitments, Significant Contracts And Contingencies 14 | mo | 6 | 6 |
Commitments, Significant Contracts And Contingencies 15 | CAD | CAD 5,000 | |
Commitments, Significant Contracts And Contingencies 16 | CAD | CAD 12,500 | |
Commitments, Significant Contracts And Contingencies 17 | CAD / mo | 15,000 | 15,000 |
Commitments, Significant Contracts And Contingencies 18 | $ 1,000,000 | |
Commitments, Significant Contracts And Contingencies 19 | CAD / mo | 15,000 | 15,000 |
Commitments, Significant Contracts And Contingencies 20 | shares | 500,000 | 500,000 |
Commitments, Significant Contracts And Contingencies 21 | 90 | 90 |
Commitments, Significant Contracts And Contingencies 22 | 500,000 | 500,000 |
Commitments, Significant Contracts And Contingencies 23 | 420,000 | 420,000 |
Commitments, Significant Contracts And Contingencies 24 | shares | 300,000 | 300,000 |
Commitments, Significant Contracts And Contingencies 25 | 300,000 | 300,000 |
Commitments, Significant Contracts And Contingencies 26 | $ 200,000 | |
Commitments, Significant Contracts And Contingencies 27 | 60 | 60 |
Commitments, Significant Contracts And Contingencies 28 | shares | 100,000 | 100,000 |
Commitments, Significant Contracts And Contingencies 29 | $ 200,000 | |
Commitments, Significant Contracts And Contingencies 30 | 60 | 60 |
Commitments, Significant Contracts And Contingencies 31 | shares | 50,000 | 50,000 |
Commitments, Significant Contracts And Contingencies 32 | 24 | 24 |
Commitments, Significant Contracts And Contingencies 33 | $ 500,000 | |
Commitments, Significant Contracts And Contingencies 34 | shares | 200,000 | 200,000 |
Commitments, Significant Contracts And Contingencies 35 | $ 500,000 | |
Commitments, Significant Contracts And Contingencies 36 | shares | 100,000 | 100,000 |
Commitments, Significant Contracts And Contingencies 37 | shares | 250,000 | 250,000 |
Income Tax (Narrative) (Details
Income Tax (Narrative) (Details) | 12 Months Ended |
Aug. 31, 2015USD ($) | |
Income Tax 1 | $ 7,760,000 |
Subsequent Events (Narrative) (
Subsequent Events (Narrative) (Details) | 12 Months Ended |
Aug. 31, 2015USD ($)$ / sharesshares | |
Subsequent Events 1 | 100,000 |
Subsequent Events 2 | $ / shares | $ 0.19 |
Subsequent Events 3 | 100,000 |
Subsequent Events 4 | $ | $ 0.19 |
Schedule of Inventory, Current
Schedule of Inventory, Current (Details) | 12 Months Ended |
Aug. 31, 2015USD ($) | |
Inventory Schedule Of Inventory, Current 1 | $ 119,944 |
Inventory Schedule Of Inventory, Current 2 | 0 |
Inventory Schedule Of Inventory, Current 3 | 48,042 |
Inventory Schedule Of Inventory, Current 4 | 0 |
Inventory Schedule Of Inventory, Current 5 | 167,986 |
Inventory Schedule Of Inventory, Current 6 | $ 0 |
Schedule of Capital Stock, Warr
Schedule of Capital Stock, Warrants (Details) | 12 Months Ended |
Aug. 31, 2015USD ($) | |
Capital Stock Schedule Of Capital Stock, Warrants 1 | $ 0 |
Capital Stock Schedule Of Capital Stock, Warrants 2 | 0 |
Capital Stock Schedule Of Capital Stock, Warrants 3 | $ 500,000 |
Capital Stock Schedule Of Capital Stock, Warrants 4 | 0.10 |
Capital Stock Schedule Of Capital Stock, Warrants 5 | $ 10,600,000 |
Capital Stock Schedule Of Capital Stock, Warrants 6 | 0.25 |
Capital Stock Schedule Of Capital Stock, Warrants 7 | $ 552,380 |
Capital Stock Schedule Of Capital Stock, Warrants 8 | 0.40 |
Capital Stock Schedule Of Capital Stock, Warrants 9 | $ 1,302,333 |
Capital Stock Schedule Of Capital Stock, Warrants 10 | 0.25 |
Capital Stock Schedule Of Capital Stock, Warrants 11 | $ 12,954,713 |
Capital Stock Schedule Of Capital Stock, Warrants 12 | 0.25 |
Capital Stock Schedule Of Capital Stock, Warrants 13 | $ (552,380) |
Capital Stock Schedule Of Capital Stock, Warrants 14 | 0.40 |
Capital Stock Schedule Of Capital Stock, Warrants 15 | $ 305,200 |
Capital Stock Schedule Of Capital Stock, Warrants 16 | 0.25 |
Capital Stock Schedule Of Capital Stock, Warrants 17 | $ 5,000,000 |
Capital Stock Schedule Of Capital Stock, Warrants 18 | 0.25 |
Capital Stock Schedule Of Capital Stock, Warrants 19 | $ 329,000 |
Capital Stock Schedule Of Capital Stock, Warrants 20 | 0.20 |
Capital Stock Schedule Of Capital Stock, Warrants 21 | $ 18,036,533 |
Capital Stock Schedule Of Capital Stock, Warrants 22 | 0.25 |
Schedule of Disposal Groups, In
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement Disclosures (Details) | 12 Months Ended |
Aug. 31, 2015USD ($) | |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement Disclosures 1 | $ 59,715 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement Disclosures 2 | 508,049 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement Disclosures 3 | (10,797) |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement Disclosures 4 | (327,413) |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement Disclosures 5 | 0 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement Disclosures 6 | (1,879,007) |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement Disclosures 7 | 48,918 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement Disclosures 8 | $ 1,698,371 |
Schedule of Disposal Groups, 45
Schedule of Disposal Groups, Including Discontinued Operations, Balance Sheet Disclosures (Details) | 12 Months Ended |
Aug. 31, 2015USD ($) | |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet Disclosures 1 | $ 0 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet Disclosures 2 | 1,400,000 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet Disclosures 3 | 0 |
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet Disclosures 4 | $ 1,400,000 |
Schedule of Debt (Details)
Schedule of Debt (Details) | 12 Months Ended |
Aug. 31, 2015USD ($) | |
Loan Payable Schedule Of Debt 1 | $ 75,000 |
Loan Payable Schedule Of Debt 2 | 0 |
Loan Payable Schedule Of Debt 3 | 75,000 |
Loan Payable Schedule Of Debt 4 | 620,000 |
Loan Payable Schedule Of Debt 5 | 0 |
Loan Payable Schedule Of Debt 6 | 58,666 |
Loan Payable Schedule Of Debt 7 | 200,000 |
Loan Payable Schedule Of Debt 8 | 0 |
Loan Payable Schedule Of Debt 9 | 56,667 |
Loan Payable Schedule Of Debt 10 | 50,000 |
Loan Payable Schedule Of Debt 11 | 0 |
Loan Payable Schedule Of Debt 12 | 50,000 |
Loan Payable Schedule Of Debt 13 | 657,447 |
Loan Payable Schedule Of Debt 14 | 0 |
Loan Payable Schedule Of Debt 15 | 536,603 |
Loan Payable Schedule Of Debt 16 | 1,698,690 |
Loan Payable Schedule Of Debt 17 | 0 |
Loan Payable Schedule Of Debt 18 | 776,936 |
Loan Payable Schedule Of Debt 19 | 1,698,690 |
Loan Payable Schedule Of Debt 20 | 0 |
Loan Payable Schedule Of Debt 21 | 776,936 |
Loan Payable Schedule Of Debt 22 | 0 |
Loan Payable Schedule Of Debt 23 | 0 |
Loan Payable Schedule Of Debt 24 | $ 0 |
Schedule of Share-based Payment
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) | 12 Months Ended |
Aug. 31, 2015USD ($)yr | |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 1 | 243.00% |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 2 | 249.00% |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 3 | $ | $ 210 |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 4 | 252.00% |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 5 | 1.47 |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 6 | 1.66% |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 7 | 1.70 |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 8 | 1.76% |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 9 | 5 |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 10 | 5 |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 11 | 0.00% |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 12 | 0.00% |
Schedule of Share-based Compens
Schedule of Share-based Compensation, Stock Options, Activity (Details) | 12 Months Ended |
Aug. 31, 2015USD ($) | |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 1 | $ 2,625,000 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 2 | 0.24 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 3 | $ (1,100,000) |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 4 | 0.23 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 5 | $ 2,175,000 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 6 | 0.11 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 7 | $ 3,700,000 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 8 | 0.17 |
Schedule of Share-based Compe49
Schedule of Share-based Compensation Arrangements by Share-based Payment Award (Details) | 12 Months Ended | |
Aug. 31, 2015USD ($)yr | Aug. 31, 2014USD ($)yr | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 1 | $ 0.35 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 2 | $ 450,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 3 | yr | 0.86 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 4 | 0.35 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 5 | $ 450,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 6 | yr | 0.86 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 7 | 0.35 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 8 | $ 0.10 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 9 | $ 400,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 10 | yr | 2.8 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 11 | 0.10 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 12 | $ 400,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 13 | yr | 2.8 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 14 | 0.10 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 15 | $ 0.60 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 16 | $ 50,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 17 | yr | 3.57 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 18 | 0.60 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 19 | $ 50,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 20 | yr | 3.57 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 21 | 0.60 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 22 | $ 0.25 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 23 | $ 625,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 24 | yr | 3.9 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 25 | 0.25 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 26 | $ 625,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 27 | yr | 3.9 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 28 | 0.25 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 29 | $ 0.11 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 30 | $ 1,425,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 31 | yr | 4.31 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 32 | 0.11 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 33 | $ 1,425,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 34 | yr | 4.3 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 35 | 0.11 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 36 | $ 0.10 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 37 | $ 250,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 38 | yr | 4.43 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 39 | 0.10 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 40 | $ 250,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 41 | yr | 4.43 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 42 | 0.10 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 43 | $ 0.10 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 44 | $ 500,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 45 | yr | 4.57 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 46 | 0.10 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 47 | $ 500,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 48 | yr | 4.57 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 49 | 0.10 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 50 | $ 3,700,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 51 | yr | 3.69 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 52 | 0.17 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 53 | $ 3,700,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 54 | yr | 3.68 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 55 | 0.17 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 1 | $ 0.20 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 2 | $ 150,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 3 | yr | 0.96 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 4 | 0.20 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 5 | $ 150,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 6 | 0.20 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 7 | $ 0.20 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 8 | $ 850,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 9 | yr | 0.39 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 10 | 0.20 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 11 | $ 850,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 12 | 0.20 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 13 | $ 0.35 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 14 | $ 450,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 15 | yr | 1.86 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 16 | 0.35 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 17 | $ 450,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 18 | 0.35 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 19 | $ 0.10 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 20 | $ 400,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 21 | yr | 3.8 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 22 | 0.20 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 23 | $ 400,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 24 | 0.10 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 25 | $ 0.60 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 26 | $ 50,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 27 | yr | 4.57 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 28 | 0.60 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 29 | $ 50,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 30 | 0.60 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 31 | $ 0.50 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 32 | $ 100,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 33 | yr | 4.59 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 34 | 0.50 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 35 | $ 100,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 36 | 0.50 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 37 | $ 0.25 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 38 | $ 625,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 39 | yr | 4.9 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 40 | 0.25 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 41 | $ 625,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 42 | 0.25 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 43 | $ 2,625,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 44 | yr | 2.54 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 45 | 0.25 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 46 | $ 2,625,000 | |
Stock Options Schedule Of Share-based Compensation Arrangements By Share-based Payment Award 47 | 0.24 |
Schedule of Effective Income Ta
Schedule of Effective Income Tax Rate Reconciliation (Details) | 12 Months Ended |
Aug. 31, 2015USD ($) | |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 1 | $ (1,934,352) |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 2 | $ (3,257,711) |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 3 | 35.00% |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 4 | 35.00% |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 5 | $ (677,023) |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 6 | (1,140,199) |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 7 | 98,764 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 8 | 24,259 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 9 | 646,711 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 10 | (530) |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 11 | (68,453) |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 12 | 1,116,470 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 13 | 0 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 14 | $ 0 |
Schedule of Deferred Tax Assets
Schedule of Deferred Tax Assets and Liabilities (Details) | 12 Months Ended |
Aug. 31, 2015USD ($) | |
Income Tax Schedule Of Deferred Tax Assets And Liabilities 1 | $ 2,715,944 |
Income Tax Schedule Of Deferred Tax Assets And Liabilities 2 | 2,126,795 |
Income Tax Schedule Of Deferred Tax Assets And Liabilities 3 | 0 |
Income Tax Schedule Of Deferred Tax Assets And Liabilities 4 | 657,652 |
Income Tax Schedule Of Deferred Tax Assets And Liabilities 5 | 2,715,944 |
Income Tax Schedule Of Deferred Tax Assets And Liabilities 6 | 2,784,447 |
Income Tax Schedule Of Deferred Tax Assets And Liabilities 7 | (2,715,944) |
Income Tax Schedule Of Deferred Tax Assets And Liabilities 8 | (2,784,447) |
Income Tax Schedule Of Deferred Tax Assets And Liabilities 9 | 0 |
Income Tax Schedule Of Deferred Tax Assets And Liabilities 10 | $ 0 |
Schedule of Components of Incom
Schedule of Components of Income Tax Expense (Benefit) (Details) | 12 Months Ended |
Aug. 31, 2015USD ($) | |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 1 | $ 76,000 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 2 | 508,000 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 3 | 1,056,000 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 4 | 720,000 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 5 | 753,000 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 6 | 552,000 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 7 | 538,000 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 8 | 252,000 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 9 | 344,000 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 10 | 1,309,000 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 11 | 1,652,000 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 12 | $ 7,760,000 |
Schedule of Segment Reporting I
Schedule of Segment Reporting Information, by Segment (Details) | 12 Months Ended |
Aug. 31, 2015USD ($) | |
Segmented Information Schedule Of Segment Reporting Information, By Segment 1 | $ 48,918 |
Segmented Information Schedule Of Segment Reporting Information, By Segment 2 | 14,702 |
Segmented Information Schedule Of Segment Reporting Information, By Segment 3 | 63,620 |
Segmented Information Schedule Of Segment Reporting Information, By Segment 4 | 0 |
Segmented Information Schedule Of Segment Reporting Information, By Segment 5 | 349,093 |
Segmented Information Schedule Of Segment Reporting Information, By Segment 6 | 1,636,996 |
Segmented Information Schedule Of Segment Reporting Information, By Segment 7 | 1,968,089 |
Segmented Information Schedule Of Segment Reporting Information, By Segment 8 | 214,632 |
Segmented Information Schedule Of Segment Reporting Information, By Segment 9 | 497,090 |
Segmented Information Schedule Of Segment Reporting Information, By Segment 10 | $ 711,722 |