FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Aug. 31, 2020

Schedule of fair value of financial instruments

The following table details the fair value measurement within the fair value hierarchy of the Company’s financial instruments, which includes the Level 2 assets and the Level 3 liabilities:


	Fair Value at August 31, 2020
	Total		Level 1		Level 2		Level 3
Assets:
Equity investment	$	2,157	$	—	$	2,157	$	—
Total assets	$	2,157	$	—	$	2,157	$	—

Liabilities:
Warrant liability	$	365	$	—	$	—	$	365
Total liabilities	$	365	$	—	$	—	$	365


	Fair Value at August 31, 2019
	Total		Level 1		Level 2		Level 3
Assets:
Equity investment	$	1,648	$	—	$	1,648	$	—
Total assets	$	1,648	$	—	$	1,648	$	—

Liabilities:
Warrant liability	$	5,444	$	—	$	—	$	5,444
Total liabilities	$	5,444	$	—	$	—	$	5,444

Schedule of warrant derivative liability

The following table reflects the activity for the Company’s warrant derivative liability for the June 2018 registered offering measured at fair value using Level 3 inputs:


	Warrant Liability
Balance at August 31, 2018	$	14,430
Adjustments to estimated fair value	(8,986)
Balance at August 31, 2019	5,444
Adjustments to estimated fair value	(5,079)
Balance at August 31, 2020	$	365

The following table reflects the activity for the Company’s participation rights derivative liability for the April 2019 private debt offering measured at fair value using Level 3 inputs:


	Participation Rights Derivative Liability
As of April 30, 2018	$	1,100
Adjustments to estimated fair value	(308)
Reclassification to equity	(792)
Balance at As of August 31, 2019	$	—