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4. Commitments and Contingencies
6 Months Ended
Feb. 28, 2019
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 4 – Commitments and Contingencies

 

Effective January 4, 2017, the Company entered into a six-month operating lease for its research and development activities in Tel Aviv, Israel, with a six months extension option. On May 22, 2017, the Company exercised the lease option for an additional six months. In November 2017 and May 2018, respectively, the Company extended the lease agreement for additional six month periods. In November 2018, the Company extended the lease agreement for an additional twelve month period.

 

Effective February 1, 2018, the Company entered into a 24-month operating lease for its lab activities in Rehovot, Israel, with a 24 months extension option.

 

Effective June 1, 2018, the Company entered into a 36-month car lease for one of its executive officers.

 

As security for its obligation under a property lease agreement, car lease and credit cards, the Company’s subsidiary provided a bank guarantee in the amount of $58,000.