Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.21.2
Debt (Tables)
9 Months Ended
May 31, 2019
Debt Disclosure [Abstract]
Schedule of long-term debt
Principal due Principal due
Lender Maturity Date Interest Rate May 31,
2019
August 31,
2018
Private lenders December 2, 2018 10.00 % $ 200,000 $ 200,000
Private lenders May 1, 2019 5.00 % 557,501 632,512
Private lenders September 17, 2019 10.00 % 100,000 -
Private lenders July 28, 2020 10.00 % - 120,900
Private lenders August 31, 2020 5.00 % - 70,900
Equipment loans April 20, 2020 – November 7, 2021 4.30 - 12.36 % 455,032 602,239
Total loans $ 1,312,533 $ 1,626,551
Schedule of long-term debt
May 31,
2019
August 31,
2018
Principal classified as repayable within one year $ 1,060,124 $ 1,027,569
Principal classified as repayable later than one year 252,409 598,982
$ 1,312,533 $ 1,626,551