Leases (Tables)
|
9 Months Ended |
May 31, 2021 |
|---|
| Leases Abstract |
|
| Schedule of right of use assets included in the unaudited condensed consolidated Balance Sheet |
| |
|
May 31,
2021 |
|
|
August
31,
2020 |
|
| Non-current
assets |
|
|
|
|
|
|
|
|
| Right
of use assets – operating leases, net of amortization |
|
$ |
177,957 |
|
|
$ |
209,101 |
|
| Right
of use assets – finance leases, net of depreciation – included in property, plant and equipment |
|
|
687,938 |
|
|
|
718,193 |
|
|
| Schedule of lease costs |
| |
|
Nine
months
ended
May 31, 2021
|
|
|
Nine months
ended
May 31, 2020
|
|
| |
|
|
|
|
|
|
| Finance lease cost: |
|
$ |
49,550 |
|
|
$ |
62,233 |
|
| Depreciation of right of use assets |
|
|
30,255 |
|
|
|
30,255 |
|
| Interest expense on lease liabilities |
|
|
19,295 |
|
|
|
31,978 |
|
| |
|
|
|
|
|
|
|
|
| Operating lease expense |
|
|
45,803 |
|
|
|
72,507 |
|
| |
|
|
|
|
|
|
|
|
| Total lease cost |
|
$ |
95,353 |
|
|
$ |
134,740 |
|
|
| Schedule of other lease information |
| |
|
Nine months
ended
May 31, 2021
|
|
|
Nine months
ended
May 31, 2020
|
|
| Cash paid for amounts included in the measurement of lease liabilities |
|
|
|
|
|
|
| Operating cash flows from finance leases |
|
$ |
(19,295 |
) |
|
$ |
(31,978 |
) |
| Operating cash flows from operating leases |
|
|
(45,803 |
) |
|
|
(72,507 |
) |
| Financing cash flows from finance leases |
|
$ |
(127,085 |
) |
|
$ |
(114,548 |
) |
| |
|
|
|
|
|
|
|
|
| Right-of -use assets obtained in exchange for new operating leases |
|
$ |
- |
|
|
|
245,482 |
|
| Weighted average remaining lease term – finance leases |
|
|
0.75
years |
|
|
|
2.00
years |
|
| Weighted average remaining lease term – operating leases |
|
|
2.25
years |
|
|
|
3.25
years |
|
| Weighted average discount rate – finance leases |
|
|
13.52 |
% |
|
|
12.86 |
% |
| Weighted average discount rate – operating leases |
|
|
10.00 |
% |
|
|
10.00 |
% |
|
| Schedule of future minimum lease payments under finance leases |
| |
|
May 31,
2021 |
|
|
August 31,
2020 |
|
| Undiscounted minimum future lease payments |
|
|
|
|
|
|
| Total instalments due: |
|
|
|
|
|
|
| Within 1 year |
|
$ |
129,120 |
|
|
$ |
193,680 |
|
| 1 to 2 years |
|
|
- |
|
|
|
80,700 |
|
| 2 to 3 years |
|
|
- |
|
|
|
- |
|
| |
|
|
129,120 |
|
|
|
274,380 |
|
| Imputed interest |
|
|
(8,773 |
) |
|
|
(26,948 |
) |
| Total finance lease liability |
|
$ |
120,347 |
|
|
$ |
247,432 |
|
| |
|
|
|
|
|
|
|
|
| Disclosed as: |
|
|
|
|
|
|
|
|
| Current portion |
|
$ |
120,347 |
|
|
$ |
172,374 |
|
| Non-current portion |
|
|
- |
|
|
|
75,058 |
|
| |
|
$ |
120,347 |
|
|
$ |
247,432 |
|
|
| Schedule of future minimum lease payments under operating leases |
| |
|
May 31,
2021 |
|
|
August 31,
2020 |
|
| Undiscounted minimum future lease payments |
|
|
|
|
|
|
| Total instalments due: |
|
|
|
|
|
|
| Within 1 year |
|
$ |
62,293 |
|
|
$ |
61,070 |
|
| 1 to 2 years |
|
|
64,161 |
|
|
|
62,903 |
|
| 2 to 3 years |
|
|
66,086 |
|
|
|
64,790 |
|
| 3 to 4 years |
|
|
22,245 |
|
|
|
66,734 |
|
| |
|
|
214,785 |
|
|
|
255,497 |
|
| Imputed interest |
|
|
(36,828 |
) |
|
|
(46,396 |
) |
| Total operating lease liability |
|
$ |
177,957 |
|
|
$ |
209,101 |
|
| |
|
|
|
|
|
|
|
|
| Disclosed as: |
|
|
|
|
|
|
|
|
| Current portion |
|
$ |
46,735 |
|
|
$ |
42,053 |
|
| Non-current portion |
|
|
131,222 |
|
|
|
167,048 |
|
| |
|
$ |
177,957 |
|
|
$ |
209,101 |
|
|