Stock Options

3 Months Ended

Nov. 30, 2021

Stock Options

16. Stock Options

16.	Stock options
	A summary of the Company’s stock option activity is as follows:

	Number of Options		Weighted Average Exercise Price $		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value $
Balance, August 31, 2021		4,450,000		0.77		4.42		1,334,000
Granted		100,000		1.125		4.76
Outstanding, November 30, 2021		4,550,000		0.78		4.19		5,014,000
Exercisable, November 30, 2021		1,583,333		0.79		4.21		1,721,667

During the three months ended November 30, 2021, the Company recorded stock-based compensation of $531,255 for options granted on the consolidated statement of operations. The fair value of each option granted was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:

	Three Months Ended November 30, 2021			Three Months Ended November 30, 2020
Expected dividend yield		0	%	-%
Expected volatility		166	%	-%
Expected life (in years)		5			-
Risk-free interest rate		0.78	%	-%

At November 30, 2021, there was $765,815 of unrecognized compensation costs related to non-vested stock-based compensation arrangements granted under the Plan.