XML 34 R2.htm IDEA: XBRL DOCUMENT v3.19.3
BALANCE SHEETS - USD ($)
Aug. 31, 2019
Aug. 31, 2018
Current assets    
Cash $ 16,604,011 $ 696,826
Deferred research and development costs 580,879 133,975
Prepaid expenses and other current assets 46,832 58,819
Total current assets 17,231,722 889,620
Operating lease right-of-use asset 65,646
Equipment, net of accumulated depreciation of $68,858 and $50,509, respectively 1,368,929 39,614
Security deposit 2,200
Total assets 18,668,497 929,234
Current liabilities    
Accounts payable and accrued expenses 97,549 93,616
Related party payables 57,933
Current maturities of operating lease 23,169
Total current liabilities 178,651 93,616
Non-current operating lease 42,564
Bridge note payable to related party 600,000
Convertible promissory note payable to related party, net of discount of $0 and $663,918, respectively 2,336,082
Interest payable to related party 1,523,943
Total long term liabilities 42,564 4,460,025
Total liabilities 221,215 4,553,641
Stockholders' equity (deficit)    
Preferred stock: $0.10 par value; 1,000,000 shares authorized, no shares issued and outstanding
Common stock: $0.001 par value; 300,000,000 shares authorized, 52,959,323 and 36,292,656 shares issued and outstanding at August 31, 2019 and 2018, respectively 52,959 36,293
Additional paid-in capital 71,166,300 42,223,599
Retained deficit (52,771,977) (45,884,299)
Total stockholders' equity (deficit) 18,447,282 (3,624,407)
Total liabilities and stockholders' equity (deficit) $ 18,668,497 $ 929,234