Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v3.21.2
Long-Term Debt (Tables)
3 Months Ended
Nov. 30, 2019
Debt Disclosure [Abstract]
Schedule of long-term debt
Principal
due
Principal
due
Lender Maturity Date Interest
Rate
November 30,
2019
August 31,
2019
Private lenders January 15, 2020 10.00 % $ 200,000 $ 200,000
Private lenders January 31, 2020 10.00 % 377,824 567,230
Private lenders September 17, 2019 10.00 % 100,000 100,000
Equipment loans April 20, 2020 –
November 7, 2021
4.30 - 12.36 % 354,609 405,628
$ 1,032,433 $ 1,272,858
Schedule of long-term debt maturity period
November 30,
2019
August 31,
2019
Principal classified as repayable within one year $ 857,092 $ 1,057,163
Principal classified as repayable later than one year 175,341 215,695
$ 1,032,433 $ 1,272,858