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STOCK COMPENSATION PLANS (Tables)
6 Months Ended 12 Months Ended
Feb. 28, 2018
Aug. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]    
Schedule of stock option activity

 

 

Options Outstanding

 

 

 

 Number of

Shares

 

 

 Weighted- Average Exercise Price

 

 

 Fair Value on

Grant Date

 

 

Intrinsic

Value

 

Balances as of August 31, 2016

 

 

4,550,000

 

 

$1.32

 

 

$2,550,380

 

 

$1,919,000

 

Granted

 

 

23,800,000

 

 

 

1.97

 

 

 

33,314,610

 

 

 

6,021,500

 

Exercised

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Forfeited

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Balances as of August 31, 2017

 

 

28,350,000

 

 

$1.86

 

 

$35,864,990

 

 

$7,940,500

 

Granted

 

 

15,864,031

 

 

 

1.99

 

 

 

32,996,834

 

 

 

2,085,621

 

Exercised

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Forfeited

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Balances as of February 28, 2018

 

 

44,214,031

 

 

$1.91

 

 

$68,861,824

 

 

$10,026,121

 

 

 

Options Outstanding

 

 

 

Number of Shares

 

 

Weighted- Average Exercise Price

 

 

Fair Value on Grant Date

 

 

Intrinsic Value

 

Balances as of August 31, 2015

 

 

-

 

 

$-

 

 

$-

 

 

$-

 

Granted

 

 

4,550,000

 

 

 

1.32

 

 

 

2,550,380

 

 

 

21,000

 

Exercised

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Forfeited

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Balances as of August 31, 2016

 

 

4,550,000

 

 

 

1.32

 

 

 

2,550,380

 

 

 

59,500

 

Granted

 

 

23,800,000

 

 

 

1.97

 

 

 

33,314,610

 

 

 

1,982,000

 

Exercised

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Forfeited

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Balances as of August 31, 2017

 

 

28,350,000

 

 

$1.86

 

 

$35,864,990

 

 

$2,041,500

 

Schedule of information relating to exercisable stock options  

Options Exercisable

 

 

 

 

 

Number

 

 

Weighted Average

 

of Shares

 

 

Exercise Price

 

 

4,100,000

 

 

$1.29

 

Schedule of outstanding and exercisable stock options

Options Exercisable

Number

Weighted Average

of Shares

Exercise Price

22,464,031

$

1.59

Options Outstanding

 

 

Options Exercisable

 

Number

 

 

Weighted Average

Remaining Contractual

 

 

Weighted Average

 

 

Number

 

 

Weighted Average

 

of Shares

 

 

life (in years)

 

 

Exercise Price

 

 

of Shares

 

 

Exercise Price

 

 

50,000

 

 

No expiration

 

 

$0.5

 

 

 

50,000

 

 

$0.50

 

 

4,500,000

 

 

 

5.97

 

 

$1.33

 

 

 

1,500,000

 

 

$0.75

 

 

4,500,000

 

 

 

6.11

 

 

$1.33

 

 

 

-

 

 

$-

 

 

4,500,000

 

 

 

6.17

 

 

$1.33

 

 

 

-

 

 

$-

 

 

3,750,000

 

 

 

5.34

 

 

$1.83

 

 

 

1,250,000

 

 

$1.25

 

 

6,000,000

 

 

 

6.34

 

 

$2.67

 

 

 

-

 

 

$-

 

 

50,000

 

 

 

4.34

 

 

$1.25

 

 

 

50,000

 

 

$1.25

 

 

5,000,000

 

 

 

6.73

 

 

$2.38

 

 

 

-

 

 

$-

 

 

28,350,000

 

 

 

 

 

 

 

 

 

 

 

2,850,000

 

 

 

 

 

Schedule of weighted-average grant-date fair value for non-vested stock options

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

Grant Date

 

 

 

 

 

 

Fair Value

 

 

 

Shares

 

 

Per Share

 

Unvested, August 31, 2016

 

 

4,500,000

 

 

$0.56

 

Granted

 

 

23,800,000

 

 

 

1.40

 

Vested

 

 

(4,050,000)

 

 

1.27

 

Forfeited

 

 

-

 

 

 

-

 

Unvested, August 31, 2017

 

 

24,250,000

 

 

$1.27

 

Granted

 

 

15,864,031

 

 

 

2.08

 

Vested

 

 

(18,364,031)

 

 

1.59

 

Forfeited

 

 

-

 

 

 

-

 

Unvested, February 28, 2018

 

 

21,750,000

 

 

$1.59

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

Grant Date

 

 

 

 

 

 

Fair Value

 

 

 

Shares

 

 

Per Share

 

Unvested, August 31, 2015

 

 

-

 

 

$-

 

Granted

 

 

4,550,000

 

 

 

0.56

 

Vested

 

 

(50,000)

 

 

0.56

 

Forfeited

 

 

-

 

 

 

-

 

Unvested, August 31, 2016

 

 

4,500,000

 

 

$0.56

 

Granted

 

 

23,800,000

 

 

 

1.40

 

Vested

 

 

(4,050,000)

 

 

1.27

 

Forfeited

 

 

-

 

 

 

-

 

Unvested, August 31, 2017

 

 

24,250,000

 

 

$1.27

 

Schedule of weighted-average assumptions

 

 

Six Months Ended

 

 

 

February 28,

 

 

 

2018

 

 

2017

 

Expected term

 

4.84 years – 5.88 years

 

 

1 - 5 years

 

Expected average volatility

 

175% - 176

%

 

176% - 189

%

Expected dividend yield

 

 

-

 

 

 

-

 

Risk-free interest rate

 

2.20% - 2.35

%

 

1.42% - 2.01

%

 

 

Years Ended August 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Expected term

 

4.34 – 6.73 years

 

 

5.97 – 7.97 years

 

 

 

-

 

Expected average volatility

 

177%-183%

 

 

 

179%

 

 

-

 

Expected dividend yield

 

 

-

 

 

 

-

 

 

 

-

 

Risk-free interest rate

 

1.17% - 2.25%

 

 

1.17% - 1.58%

 

 

 

-

 

Schedule of options issued

 

Six Months Ended

 

Year Ended

February 28,

 

August 31,

2018

 

2017

Exercise price

$1.50 - $2.50

 

$0.75 - $3.75

Time to vest

On issuance – 4 years

 

On issuance – 4 years

Expiration after vesting

5 years

 

3 years – 5 years