Quarterly report pursuant to Section 13 or 15(d)

Summary of significant accounting policies (Tables)

v3.20.4
Summary of significant accounting policies (Tables)
3 Months Ended
Nov. 30, 2020
Summary of significant accounting policies  
Schedule of estimated useful lives of property and equipment

 

 

 

Equipment:

    

5 years

Furnitures & Fixtures:

 

5 - 7 years

 

Schedule of weighted average dilutive common shares

 

 

 

 

 

 

    

For the Three

    

For the Three

 

 

Months

 

Months

 

 

Ended

 

Ended

 

 

November 30,

 

November 30,

 

 

2020

 

2019

 

 

 

 

 

Options

 

1,517,189

 

45,463

Senior Secured Convertible Notes

 

 —

 

889,935

Warrants

 

4,396,209

 

107,416

Total potentially dilutive stock

 

5,913,398

 

1,042,814

 

Schedule of revision on line items in financial statements

 

 

 

 

 

 

 

 

 

 

 

 

For the quarter ended November 30, 2019

 

 

As

 

 

 

 

 

 

 

 

Previously

 

 

 

 

 

 

 

    

  Reported

    

Adjustments

    

As Restated

 

 

 

 

 

 

 

 

 

 

Depreciation and Amortization

 

$

241,000

 

$

(162,000)

 

$

79,000

Operating Loss

 

$

(4,330,000)

 

$

162,000

 

$

(4,168,000)

Net Loss

 

$

(2,556,000)

 

$

162,000

 

$

(2,394,000)

Net loss per common share – continuing operations, Basic and diluted

 

$

(2.86)

 

$

0.18

 

$

(2.68)

Weighted average number of common stock shares Basic and diluted

 

 

893,094

 

 

 

 

 

893,094